Mississagi Power Trust Completes Private Placement of Bonds

On November 27, 2003, Mississagi PowerTrust (MPT) completed a private placement of $175 million 17-year first mortgage bonds. MPT operates four hydroelectric generating stations on the Mississagi River in northern Ontario and is part of the Great Lakes Hydro Income Fund, 51 per cent of which is indirectly owned by Brascan Power Corporation. Proceeds of the financing were used to repay an existing bridge facility and for general business purposes. The bonds were jointly marketed by Scotia Capital Inc. and Trilon Securities Corporation.

MPT was represented by Torys LLP, with a team that included Jonathan Weisz, Rose Bailey, John Cameron, John Tobin, Tom Zverina, Jamie Koumanakos, Helgi Maki and Nadine Rockman; assisted by in-house counsel Patricia Bood, Brascan Power. The lenders were represented by McCarthy Tétrault LLP, with a team that included David Lever, Robert Stephenson, Jerald Wortsman, Bram Costin, Patrick Squire, Tallat Hussain, Catherine McKendry, Sean O’Neill and Brodie Swartz.