SEC LP and ARCI Ltd. Complete $550M Financing of Suncor Energy Centre in Calgary

SEC LP, a subsidiary of Brookfield Office Properties Canada LP, and Arci Ltd. completed the financing of the Suncor Energy Centre in Calgary by way of the issuance of $550-million senior secured series 1 bonds having a term of twenty years. The bonds were assigned an “A” rating by DBRS Ltd.

The Suncor Energy Centre is comprised of two towers, the East Tower and the West Tower, containing approximately 1.71 million square feet of rentable office space and 24,157 square feet of retail space and a 4-level, 849-stall underground parking facility.

CIBC World Markets Inc., TD Securities Inc. and Brookfield Financial Corp. acted as co-agents on the transaction.

The agents and the bondholders were represented by a team from Bennett Jones LLP including Paul Mantini, Juliana Abdo, Colin Andrews and Nawaz Hussainaly.

SEC LP was represented in-house by Cameron Black, vice president, legal. Corporate counsel for Arci Ltd. was a team from Dentons Canada LLP comprised of Robert Poffenroth, Joseph Palin, Dale Skinner and Bruce MacPhail. The issuers were represented by Blake, Cassels & Graydon LLP's Richard Dawson, Warren Nishimura, Kelly Bourassa, Carrie Aiken, Chris Prokop, Jay Geers, Paul Logan, Chris Salamon, Brittany Sargent and Vladimir Cvijetinovic.