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Debt Capital Markets

Debt Capital Markets
Debt Capital Markets
Expertise / Practices / Capital Markets / Debt Capital Markets

Issuers, investors, managers, arrangers and underwriters in the domestic and foreign debt capital markets engage our Capital Markets team with their debt transactions. We regularly advise on a broad range of sophisticated and innovative domestic and cross-border public and private debt offerings. Clients across a diverse range of industries also seek our guidance in structuring, documenting and executing exchange offers, tender offers and consent solicitations.

Our debt capital markets expertise and strong working relationships with regulators enable our lawyers to represent clients in a variety of debt transactions and debt-based financing arrangements throughout Canada as well as worldwide, including straight debt, equity-linked and high-yield bond offerings, convertible bond offerings, private placements, subordinated debt, establishment of global and Euro medium term notes and commercial paper debt issuance programs, and development and issuance of innovative convertible and exchangeable products.

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Recent Experience
  • A syndicate of underwriters lead by National Bank Financial Inc. and TD Securities Inc. in connection with Ontario Power Generation Inc.’s offering of C$500-million 2.947 per cent medium-term notes due February 21, 2051, for aggregate gross proceeds of C$497,495,000.
  • Cenovus Energy Inc. on its public offering of US$1-billion in 5.375 per cent senior unsecured notes due 2025.

  • CIBC in connection with its US$1.25-billion MJDS offering of secured overnight financing rate floating rate senior notes due 2023.

  • Suncor Energy Inc. on its C$750-million offering of medium-term notes.
  • Algonquin Power & Utilities Corp. on its US$350-million cross-border offering of subordinated notes.

  • The initial purchasers for Aphria Inc.’s US$350-million private placement of 5.25 per cent convertible senior notes.

  • Canadian Imperial Bank of Commerce in connection with its US$1-billion multijurisdictional disclosure system offering of 3.1 per cent senior notes.

  • A syndicate of underwriters on the C$1.5-billion offering of medium-term notes of Hydro One Inc.

  • Pembina Pipeline Corporation on its C$800-million offering of medium-term notes.

  • Canadian Pacific Railway Company on its C$400 million offering of notes.

  • A syndicate of underwriters on the C$450-million offering of medium term notes of Ontario Power Generation Inc.

  • Kinder Morgan Canada Limited on its C$5.5-billion debt financing transaction for the Trans Mountain Pipeline expansion project.

  • Intact Financial Corporation on its offering of C$425-million of medium term notes.

  • H&R Real Estate Investment Trust on its C$200-million offering of floating rate senior unsecured debentures.

  • TransCanada PipeLines Limited on multiple offerings of senior notes and medium term note debentures.

  • A syndicate of underwriters on its C$350-million offering of medium term notes of Hydro One Inc.