Derek Chiasson is a partner in the Norton Rose Fulbright tax team. His principal focus is on domestic and international tax aspects of mergers & acquisitions, corporate finance and corporate reorganizations, for public and private corporations. He also regularly advises on tax disputes, commodity taxes and executive compensation. Derek leverages his broad experience to bridge tax, finance and legal aspects of the transactions and reorganizations he works on, while maintaining strong technical skills, attention to detail and creativity. He is a member of the Canadian Tax Foundation, the Association de planification fiscale et financière and the International Fiscal Association. He is currently a member of the IFA Canada Council and is a former member of the Canadian Bar Association’s CBA/CICA Joint Committee on Taxation. He has been a speaker for the Canadian Tax Foundation, IFA, the APFF and Wolters Kluwer. He also has industry experience, having served as vice-president, corporate development/strategy and legal affairs of a multi-national US public company in the video game industry listed on the NASDAQ exchange.
On March 8, 2019, Bausch Health Companies Inc. (NYSE/TSX: BHC) (the “Company”) completed its issuance and sale of US$500 million aggregate principle amount of its new 5.750% Senior Secured Notes due 2027 (the “Secured Notes”) and Bausch Health Americas, Inc. (BHA), the Company’s wholly owned indirect subsidiary, completed its issuance and sale of US$1.0 billion aggregate principal amount of its add-on 8.500% Senior Unsecured Notes due 2027 (the “Unsecured Notes”, and together with the Secured Notes, the “Notes”) (such offerings, the “Notes Offerings”).
On March 14, 2019, CAE Inc. (NYSE: CAE; TSX: CAE) announced the completion of its previously announced acquisition of Bombardier’s Business Aircraft Training (“BAT”) business for an enterprise value of US$645 million. As part of the financing for the purchase price of this acquisition, CAE also completed the issuance of US$450 million aggregate principal amount of senior unsecured notes, as announced on December 21, 2018.
On September 14, 2018, Boralex Inc. (“Boralex”), a Canadian leader in the development and operation of renewable energy facilities and France’s largest independent producer of onshore wind power, completed the acquisition of all of the economic interests of Invenergy Renewables, LLC (“Invenergy”) in five wind farms in Québec, for a total cash consideration of approximately $215 million.
On June 28, 2018, SNC-Lavalin’s infrastructure investment fund, SNC-Lavalin Infrastructure Partners LP (the Fund), completed the previously announced transfer of a fifth Canadian infrastructure asset, the McGill University Health Centre in Montréal.
On January 16, 2018, Laurentian Bank of Canada (the Bank) completed a public offering of 2,624,300 common shares (the Shares), which included the exercise in full of the over-allotment option granted to the underwriters.
On September 28, 2017, a new infrastructure investment fund formed by SNC-Lavalin Inc., SNC-Lavalin Infrastructure Partners LP (the Fund), completed its initial closing involving the sale and issuance to a subsidiary of BBGI SICAV S.A. of 80 per cent of the Fund’s limited partnership units, while SNC-Lavalin retained the remaining 20 per cent of the limited partnership units and will also act as the general partner and manager of the Fund. The aggregate proceeds for all transactions, including the initial closing, amount to approximately $189 million.
On July 3, 2017, SNC-Lavalin Group Inc. (SNC-Lavalin) completed its acquisition of WS Atkins plc (Atkins), one of the world’s most respected consultancies in design, engineering and project management, with a leadership position across the infrastructure, transportation and energy sectors, by means of a Court-sanctioned scheme of arrangement under Part 26 of the U.K. Companies Act 2006 (the Acquisition).
On June 22, 2017, Laurentian Bank of Canada (the Bank) completed a public offering of $350 million aggregate principal amount of 4.25-per-cent Notes due June 22, 2027 (Non-Viability Contingent Capital, or NVCC) (subordinated indebtedness), the Bank’s initial offering of NVCC subordinated indebtedness.
On October 3, 2016, Laurentian Bank of Canada (Laurentian Bank) announced the completion of its acquisition of the Canadian equipment financing and corporate financing activities of CIT Group Inc. (CIT), a portfolio valued at approximately $1 billion (the Acquisition).
On September 16, 2016, Industrial Alliance Insurance and Financial Services Inc. (“Industrial Alliance”) completed the offering of $400-million aggregate principal amount of 3.30 per cent Fixed/Floating Subordinated Debentures due September 15, 2028.
On March 30, 2016, SNC-Lavalin Group Inc. (SNCL) announced that it had reached financial close on the sale of its indirect ownership interest in MMLC Holdings Malta Limited (formerly, SNC-Lavalin (Malta) Limited (SNCL Malta)) to an affiliate of Flughafen Wien AG (VIE), the operator of Vienna International Airport and a company that is publicly traded on the Vienna Stock Exchange, for total cash consideration of approximately 64 million euros.
On September 22, 2015, Canadian National Railway Company completed the offering of $350 million aggregate principal amount of 2.80 per cent Notes due 2025, $400 million aggregate principal amount of 3.95 per cent Notes due 2045, and $100 million aggregate principal amount of 4.00 per cent Notes due 2065.
Graphic Packaging International Canada, with Cascades Canada ULC and Cascades Inc., completed the acquisition of folding carton converting and paperboard mill assets of Norampac, a division of Cascades Canada ULC.
Stornoway Diamond Corporation announced that it had closed its previously announced financing transactions with US private equity firm Orion Mine Finance, Investissement Québec (through its wholly owned subsidiaries Diaquem Inc. and Resources Québec) (“RQ”), and the Caisse de dépôt et placement du Québec to fund the construction of the Renard Diamond Project, Quebec’s first diamond mine.
SNC-Lavalin announced that it had reached financial close on the sale of its 100-per cent interest in AltaLink, Alberta's largest regulated energy transmission company, to Berkshire Hathaway Energy (Berkshire). This follows the receipt of regulatory approvals from the Alberta Utilities Commission and approvals pursuant to the Competition Act and Investment Canada Act. Based on the terms of the agreement, the transaction values AltaLink at approximately $7.2 billion and will result in gross proceeds to SNC-Lavalin of approximately $3.1 billion.
Acklands-Grainger Inc., a wholly-owned subsidiary of W.W. Grainger, Inc., completed its acquisition of WFS Enterprises Inc. and 971086 Ontario Inc. (collectively, WFS) from the employee-shareholders of WFS, a leading distributor of tools and supplies to industrial markets in Southern Ontario and select U.S. locations.
Patheon Inc. completed a court-approved statutory plan of arrangement under the Canada Business Corporations Act under which Patheon was acquired for US$9.32 per share in cash resulting in a total enterprise value for Patheon of approximately US$1.98 billion.
Bell Nordiq Income Fund, a Montreal-based unincorporated limited purpose trust created to indirectly acquire and hold partnership units of Télébec, Limited Partnership and Northern Telephone, Limited Partnership, completed an initial public offering of its units on April 23, 2002.