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Expertise / Sectors / Banking
Commentators speak highly of the group’s ‘very strong dedication to client service,’ adding: ‘We have a complex business and Blakes understands it well. This in-depth understanding, as well as its responsiveness, sets the firm apart.
Chambers Canada: Canada’s Leading Lawyers for Business 2020 ranks Blakes in Band 1 for Banking & Finance

Increased competition, regulatory reform and the economic downturn have challenged the financial services industry worldwide. In the current environment, it is more important than ever for financial services companies to have experienced counsel with the industry knowledge, regulatory expertise and legal acumen required to deal with their increasingly complex issues.

Many of the largest and most highly regarded financial institutions and financial services providers in Canada, the U.S., Europe and Asia, as well as other non-Canadian financial service providers, regularly retain Blakes as counsel.
Our clients rely on us to assist them with:

  • A wide variety of domestic and cross-border financing transactions, including syndications, project finance, asset-based lending, trade finance, high-yield offerings, debt and debtor-in-possession (DIP) financing, warehouse facilities credit arrangements, private placements, securitizations and structured financing, subordinated debt arrangements, as well as aircraft and other equipment finance and capital markets debt offerings

  • The establishment or acquisition of financial services entities

  • The development of business and consumer loan and leasing programs

  • Compliance with the federal and provincial regulatory requirements that apply to financial services entities, their products and their distribution networks

  • The purchase and sale of lease, loan and credit card portfolios and deposit businesses

  • First Nations finance and banking

  • Franchise finance

  • Time-share financings

  • Consumer and commercial loan and lease programs

  • Letters of credit

  • Securities lending

  • Financial products and services distribution arrangements

  • Outsourcing by financial institutions

We also offer our clients seamless access to the expertise of our tax, securities, insolvency, regulatory and other specialty groups as needed.

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Recent Experience
  • CIBC in connection with its US$1-billion multijurisdictional disclosure system offering of 3.1 per cent senior notes due 2024.
  • A syndicate of underwriters led by CIBC Capital Markets, RBC Capital Markets and TD Securities Inc. on Aritizia Inc.’s secondary offering of C$329,634,500 and repurchase of C$107,038,736 subordinate voting shares from Berkshire Partners LLC.

  • A syndicate of underwriters led by TD Securities Inc. and RBC Capital Markets on a public offering by Choice Properties Real Estate Investment Trust for approximately C$395-million.

  • TD Securities Inc. and BMO Nesbitt Burns Inc. and the syndicate of underwriters in connection with an offering of units of Automotive Properties Real Estate Investment Trust.

  • Canadian Imperial Bank of CommerceJ.P. Morgan Chase & Co. and RBC Capital Markets, as joint global leads, in connection with the financing of the C$8.5-billion Sturgeon refinery project being developed by North West Redwater Partnership.

  • MBNA Canada Bank on the sale of its C$8.5-billion credit card portfolio to The Toronto-Dominion Bank.

  • JPMorgan Chase Bank, N.A., as DIP agent, in connection with the US$2.3-billion DIP facility to Toys “R” Us Canada and its U.S. parent.

  • MCAP Financial Corporation on its C$1.5-billion mortgage purchase from Home Trust Company.

  • The syndicate of lenders in connection with the establishment of credit facilities in favour of Wolf Midstream Inc. to finance (on a project-financing basis) its acquisition of a 50 per cent ownership interest in the Access Pipeline from Devon Energy Corp. for C$1.4-billion.

  • The Toronto-Dominion Bank, as lead arranger, in connection with the C$1-billion and US$500-million credit facilities for Parkland Fuel Corporation to finance its acquisition of Chevron Canada's downstream fuel business in B.C. and Alberta.

  • Canadian Imperial Bank of Commerce, as agent, in connection with credit facilities totalling C$900-million for Richardson International Limited.

  • The Toronto-Dominion Bank on its C$792-million proposed acquisition of Greystone Capital Management Inc.

  • Aareal Bank AG in connection with a C$716-million syndicated financing for a group of Canadian hotels, the largest (by number of properties) hotel financing in Canada, covering a portfolio of 23 hotel properties across the country.

  • Canadian Tire Corporation on its agreement with Scotiabank regarding a strategic partnership that will see Scotiabank acquire a 20 per cent equity interest in Canadian Tire's financial services business for C$500-million in cash.

  • Canadian Imperial Bank of Commerce, as administrative agent, in connection with a C$100-million syndicated revolving credit facility provided to Northland Power Inc.

  • Silicon Valley Bank on the establishment of a Canadian branch.

  • The Bank of Nova Scotia on the sale of the business and assets of Roynat Lease Finance, a division of its subsidiary Roynat Inc., to Meridian Credit Union Limited.

  • Morgan Stanley Capital Partners in relation to its acquisition of Access Cash Limited Partnership, a Canadian ATM operator.

  • Canadian federal and provincial financial institutions on the rules governing payments systems in Canada, as well as on legal matters relating to payment clearing and settlement.

  • A large bank on multiple strategically significant contracts for technology-based services and solutions, including for projects relating to the digitization of retail banking performance evaluations and a strategic initiative to implement a global fixed-income solution for wholesale operations.

Awards & Recognition

Blakes Financial Services lawyers have been recognized as leaders in their field in the most recent editions of the following publications:

  • Chambers Canada: Canada’s Leading Lawyers for Business (Banking & Finance – Nationwide Canada, Banking & Finance: Financial Services Regulation – Nationwide Canada, Project Finance – Nationwide Canada and Transportation: Aviation: Finance – Nationwide Canada)

  • Chambers Global: The World’s Leading Lawyers for Business (Banking & Finance – Canada, Banking & Finance: Financial Services – Canada and Capital Markets: Securitisation – Canada)

  • The Canadian Legal Lexpert® Directory (Blakes is “Most Frequently Recommended” in Banking & Financial Institutions every year since the directory’s inception in 1997. Also, “Most Frequently Recommended” in Asset Equipment Finance/Leasing, Asset Securitization and Project Finance. Also recommended in Derivative Instruments.)

  • The Lexpert®/American Lawyer Guide to the Leading 500 Lawyers in Canada (“Most Frequently Recommended” in Banking & Financial Institutions, Asset Securitization and Project Finance)

  • Lexpert® Guide to the Leading US/Canada Cross-Border Corporate Lawyers In Canada (Financing)

  • IFLR1000: The Guide to the World’s Leading Financial and Corporate Law Firms (Banking, Financial Services Regulatory and Project Finance)

  • Who's Who Legal: Banking (Finance, Fintech and Regulatory)

  • Who's Who Legal: Canada (Aviation, Banking and Project Finance)

  • Who's Who Legal: Project Finance

  • Who's Who Legal: Transport – Aviation Finance

  • Euromoney’s LMG Banking, Finance and Transactional Expert Guide (Banking, Project Finance, Structured Finance and Securitisation and Women in Business Law)

  • The Legal 500 Canada (Banking and Finance and Transport: Aviation)

  • The Best Lawyers in Canada (Asset-Based Lending Practice, Aviation Law, Banking and Finance Law, Derivatives Law, Equipment Finance Law, Project Finance Law and Structured Finance Law)

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