855 2nd St SW, Suite 3500, Bankers Hall, East Twr, Calgary, AB
Year called to bar: 1986 (AB); 1988 (ON)
Michael is a senior partner who practises in the areas of banking, acquisition finance, and project finance. Regularly advises on cross-border financings. Recent transactions include financings of oil sands projects, conventional oil & gas reserves, refineries, pipelines, and power-generating assets. He was lead counsel in connection with the establishment of syndicated credit facilities for each of Suncor Energy Inc., Husky Energy Inc., Ovintiv Canada ULC, Athabasca Oil Corporation, Crew Energy Inc., TransCanada PipeLines Limited, and ENMAX Corporation; lead counsel to the lenders financing the Sturgeon County refinery being developed by North West Redwater Partnership; and lead counsel to the borrowers in connection with the project financings for the Trans Mountain Pipeline Expansion project and the Coastal GasLink Pipeline project.
On January 24, 2020, Encana Corporation completed a corporate reorganization and plan of arrangement that resulted in the company establishing its corporate domicile in the U.S., rebranding under the name Ovintiv Inc. (“Ovintiv”), and completing a consolidation and share exchange for one share of common stock of Ovintiv for every five common shares of Encana.
On August 31, 2018, the Government of Canada indirectly acquired the Trans Mountain Pipeline system and the Trans Mountain Expansion Project (TMEP), through Trans Mountain Corp. (a subsidiary of the Canada Development Investment Corp. (CDEV)) from a subsidiary of Kinder Morgan Canada Ltd. (KML) for cash consideration of $4.5 billion.
On July 19, 2018, Tervita Corp. (“Tervita”) and Newalta Corp. (“Newalta”) completed a business combination by way of plan of arrangement (the “Arrangement”), pursuant to which Tervita acquired all of Newalta’s issued and outstanding common shares.
On March 22, 2018, Wolf Midstream Inc. (Wolf Midstream) successfully closed the acquisition from MEG Energy Corp. (MEG) of MEG’s 50-per-cent ownership interest in Access Pipeline and a 100-per-cent ownership interest in the Stonefell Terminal for $1.52 billion, including capital commitments of approximately $90 million. Wolf Midstream also completed an amendment and restatement of its senior secured credit facilities, which were upsized on the date of the acquisition to $1.5 billion, in order to provide debt financing for the acquisition.
On May 30, 2017, Kinder Morgan Canada Limited (KML) completed its initial public offering (the IPO) by issuing 102,942,000 restricted voting shares at a price of $17.00 per share, for total proceeds of approximately $1.75 billion.
On April 1, 2016, TransCanada Corporation closed a bought deal offering of subscription receipts in Canada and the United States for aggregate gross proceeds of $4.4 billion, which, at the time, constituted the largest bought deal offering in Canadian history
On February 23, 2015, North West Redwater Partnership and NWR Financing Company Ltd., as co-issuers, issued $500 million of 2.10 per cent Series C Senior Secured Bonds, due February 23, 2022 and $500 million of 3.70 per cent Series D Senior Secured Bonds, due February 23, 2043, for aggregate gross proceeds of $1.0 billion.
On June 25, 2014, North West Redwater Partnership entered into a four-year $3.5 billion syndicated credit facility with Canadian Imperial Bank of Commerce, JPMorgan Chase Bank, N.A., Toronto Branch, Royal Bank of Canada, certain other lenders, and Royal Bank of Canada, as agent.