Tim is a partner who practises in the areas of corporate finance and securities law. Tim’s practice focuses on a wide variety of mergers & acquisitions, capital markets, and other financing transactions, with a particular emphasis on offerings of high-yield and investment-grade debt securities, complex equity securities, and equity-linked securities. He has also represented numerous clients in connection with reorganizations, restructurings, and other liability management transactions. Tim’s industry expertise includes financial institutions, consumer/retail, industrials, technology/media/telecommunications, real estate, oil & gas, mining, transportation, and agriculture. His clients include investors, underwriters, issuers, financial sponsors, lenders, and borrowers based in Canada, South America, Europe, and Asia. Tim is recognized as a leading lawyer in Chambers Canada: Canada's Leading Lawyers for Business 2021, The Legal 500 Canada 2021, and IFLR1000: The Guide to the World's Leading Financial and Corporate Law Firms – 2021 edition.
On June 14, 2018, Nouvelle Autoroute 30, s.e.n.c.(NA30) successfully closed the $1.2 billion bond refinancing for Montreal highway Autoroute 30 (A-30) concession project (the A-30 Project). The bonds included approximately $828 million in long-term bonds, due 2042, priced at roughly 4.11% and approximately $390 million in medium-term bonds, due 2033, carrying a coupon of approximately 3.75%.
On November 1, 2017, The Washington Cos. (Washington), a group of privately held North American mining, industrial and transportation businesses founded by industrialist and entrepreneur Dennis R. Washington, completed its acquisition of Dominion Diamond Corp. (Dominion) for approximately $1.5 billion.
On April 13, 2017, Source Energy Services Ltd. (“Source”) completed an initial public offering of approximately 16.7 million common shares at $10.50 per common share for aggregate gross proceeds of approximately $175 million. The common shares of Source are listed on the Toronto Stock Exchange under the symbol “SHLE.”
On December 8, 2016, Source Energy Services Canada LP (“Source LP”) and Source Energy Services Canada Holdings Ltd. (“Source Holdings” and together with Source LP, “Source”) completed its offering of $130-million aggregate principal amount of senior secured first lien notes (the “Notes”).
North West Redwater Partnership closed on the issuance of an additional $1.2 billion in senior secured bonds as part of its anticipated $8.5-billion capital cost program to construct and operate a merchant upgrader/refinery in Alberta.
On June 7, 2016, Teck Resources Ltd. completed a private placement offering of US$1.25 billion in aggregate principal amount of senior unsecured notes, consisting of US$650 million aggregate principal amount of 8.000 per cent notes due 2021 and US$600 million aggregate principal amount of 8.500 per cent notes due 2024.
On February 1, 2016, GFL Environmental Inc. (GFL) completed the acquisition of the Matrec solid waste division from TransForce Inc. (TSX: TFI, OTCQX: TFIFF) for $800 million. The acquisition was funded in part by the private offering of US$300 million in aggregate principal amount of senior unsecured notes due 2021 (the Note Offering) through a syndicate of broker dealers led by Credit Suisse, BMO Capital Markets and Barclays and including Scotiabank, CIBC Capital Markets, Comerica Securities, National Bank of Canada Financial Markets and Raymond James (the Dealers).
The Saskatchewan Hospital North Battleford Project reached financial close on August 27, 2015, when Access Prairies Partnership (APP) entered into a Project Agreement with the Province of Saskatchewan (Province) for an integrated mental health hospital and correctional facility.
On February 9, 2015, Primero Mining Corp. announced the closing of its bought-deal offering of US$75 million aggregate principal amount of 5.75 per cent convertible subordinated debentures maturing on February 28, 2020.
Air Canada closed its private offering of three tranches of Enhanced Equipment Trust Certificates (EETCs), in the aggregate face amount of US$1,031,390,000. This is the second EETC offering in the last two years used by Air Canada to finance the acquisition of new aircraft to be added to its fleet. In April 2013, Air Canada closed the first Canadian offering using EETCs under the Cape Town Convention, which was ratified in December 2012, and became effective April 1, 2013, in Canada.
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.
Enbridge Southern Lights LP is the owner of the Canadian portion of the Southern Lights pipeline which delivers diluent from the Chicago area to the Edmonton area where it is mixed to facilitate transportation of conventional heavy oil and oil sands production from Northern Alberta by pipeline.