Lexpert magazine features articles and columns on developments in legal practice management, deals and lawsuits of interest in Canada, the law and business issues of interest to legal professionals and businesses that purchase legal services.
Issue link: https://digital.carswellmedia.com/i/1534265
www.lexpert.ca 23 THE EXCELLENCE AWARDEES in the capital markets category highlight the depth and innovation of Canada's financial markets. ese deals advanced financing strategies, strengthened corpo- rate governance, and facilitated strategic restructuring , showcasing the adapta- bility and expertise required to thrive in Canada's evolving capital markets landscape. One of the most significant transactions in this category is Alimentation Couche- Tard's concurrent US$1.5 billion and €1.35 billion notes offerings. Representing its largest-ever debt financing, the multi- tranche offering allowed Couche-Tard to optimize its capital structure while support- ing its €3.1 billion acquisition of TotalEnergies SE's European service sta- tions. e transaction required seam- less coordination across 24 law firms, 12 investment banks, multiple trustees, and regulators across North America and Europe, demonstrating the sophistication of its execution. Leading legal advisors on the Canadian side included Stikeman Elliott LLP partner Maxime Turcotte and Fasken Martineau DuMoulin LLP lawyers Jean-Pierre Chamberland and Damien Hallé- Hannan. Skadden, Arps, Slate, Meagher & Flom LLP and Simpson acher & Bartlett LLP provided international counsel. Key financial institutions such as J.P. Morgan, PricewaterhouseCoopers LLP, and Wells Fargo played crucial roles in structuring and managing the transaction. Another cutting-edge deal in this catego- ry is Browning West's victory in the Gildan Activewear proxy campaign, which reshaped corporate governance at one of Canada's largest apparel companies. e high-profile activist investor battle led to a complete recon- stitution of Gildan's board and the reinstate- ment of its ousted CEO, Glenn Chamandy. e campaign was one of the most significant shareholder-driven victories in Canadian cor- CAPITAL MARKETS DEAL OF THE YEAR Alimentation Couche-Tard's concurrent US$1.5 billion and €1.35 billion notes offerings Fasken Martineau DuMoulin LLP (for the placing agents) Stikeman Elliott LLP (for Alimentation Couche-Tard) Browning West's victory in the Gildan Activewear proxy campaign Goodmans LLP (for Browning West) Canada's $4 billion 10-year Green Bond and additional $2 billion reopening Davies Ward Phillips & Vineberg LLP (for the syndicate of underwriters) McMillan LLP (for the Government of Canada) TC Energy Corporations' $7.9 billion notes offering for Liquids Pipelines business spinoff Blake, Cassels & Graydon LLP (for TC Energy) CANADIAN LAW FIRM INVOLVEMENT (CLIENT) porate history, underscoring the impact of shareholder activism in governance reform. Browning West, a Los Angeles-based in- vestment firm, leveraged its strategic legal expertise to overcome management opposi- tion and secure board control. e campaign involved extensive use of public filings, share- holder engagement, proxy battles, and legal proceedings, all of which were expertly han- dled by Goodmans LLP partner Jonathan Feldman as Canadian counsel. Also earning recognition in this cate- gory is Canada's $4 billion 10-year Green Bond issuance and additional $2 billion re- opening, a pioneering sustainable finance initiative. e bond was the first of its kind in Canada to be issued exclusively in book- entry form, requiring modifications to custodi- al arrangements between the Bank of Canada and CDS Clearing & Depository Services. e transaction was structured to broaden access to international investors, reinforcing Canada's growing role in the global green finance market. McMillan LLP partners Eric Friedman, Paul Davis, and Sandra Zhao acted as the le- gal advisors to the Government of Canada. Davies Ward Phillips & Vineberg LLP partner Matthew Sherman represented the