Banfai, Geza R.
McMillan LLP
(416) 865-7806
geza.banfai@mcmillan.ca
Mr. Banfai's practice focuses
exclusively on construc-
tion/infrastructure matters.
His experience includes
domestic and international
joint venture and teaming
agreements; negotiation and
preparation of integrated
team and P3 contracts.
Barnes, Jeff
Borden Ladner Gervais LLP
(416) 367-6720
jbarnes@blg.com
Mr. Barnes's Canadian
experience includes the
acquisition and financing
of 407 ETR, privatization
of Canadian National
Railway through a cross-
border offering, invest-
ment in Bruce Power and
the Toronto Waterfront
Revitalization Task Force.
Bauer, Robert T.
Davies Ward Phillips
& Vineberg LLP
(416) 863-5552
rbauer@dwpv.com
Mr. Bauer specializes in
domestic and international
infrastructure projects, PPPs,
project financing, property
development and joint ven-
tures. Projects include hos-
pitals, transit projects, urban
redevelopment, and govern-
ment and mixed-use projects.
Barber, QC, Darryl J.
Bennett Jones LLP
(403) 298-3001
barberd@bennettjones.com
Mr. Barber is a senior com-
mercial real estate lawyer
acting for developers and
institutional clients exploring
PPP opportunities. Advises
on planning strategies, prop-
erty value maximization,
purchases and sales, finan-
cing and joint ventures.
Barrett, Roderick F.
Stikeman Elliott LLP
(416) 869-5524
rbarrett@stikeman.com
Senior partner in the cor-
porate group and former
Toronto managing partner.
Practice emphasizes private
equity including fund forma-
tion, mergers & acquisitions
both public and private, debt
and equity financing for both
issuers and lenders/investors.
Beaudoin, Yannick
Blake, Cassels
& Graydon LLP
(514) 982-4025
yannick.beaudoin@blakes.com
Mr. Beaudoin's expertise
includes infrastructure and
project financing. He acts
for consortiums and lend-
ers on infrastructure and
energy-related projects, such
as the Sorel Prison, CHUM,
and numerous wind-farm
and hospital projects.
projects and coordinate the timing of close.
Multiple big-ticket projects strain the mar-
ket "in the sense you're typically looking at
broadly marketed bond-financing solutions
for deals of this size.
"e sizing of the projects, the amount
of senior debt required, is something we
6
|
FINANCING INFRASTRUCTURE
LEXPERT
®
RANKED LAWYERS
"I SPEAK TO A NUMBER OF SENIOR COUNSEL IN THIS SPACE FAIRLY REGULARLY
AND CONSENSUS IS THE FIRST PART OF THIS YEAR HAS PROBABLY BEEN THE BUSIEST
WE HAVE EVER SEEN THE INFRASTRUCTURE BIDDING MARKET. THE AMOUNT OF CAPITAL
REQUIRED FOR THESE PROJECTS – THE SHEER SIZE OF THEM – IS UNPARALLELED
IN THE CANADIAN MARKET IN THE PAST."–
Chris Bennett, Osler, Hoskin & Harcourt LLP
"I speak to a number of senior counsel in
this space fairly regularly and consensus is
the first part of this year has probably been
the busiest we have ever seen the infrastruc-
ture bidding market. e amount of capital
required for these projects – the sheer size
of them – is unparalleled in the Canadian
market in the past."
e $11.5 billion in deals that passed
through procurement in a single four-
week period earlier this year provides a
telling snapshot, he says. ese include
the $5.3-billion Eglinton Crosstown LRT
project in Toronto, the $1.2-billion Regina
Bypass project and Montréal's new Cham-
plain Bridge project, which is estimated at
as much as $5 billion.
As Canada's aging infrastructure starts
to crumble, highways, bridges, overpasses
and tunnels across the country have to
be rebuilt. At the same time many cities
are finding their aging transit systems and
transportation routes buckling under the
sheer volume of people using them, which
means they have to be upgraded or replaced
as well.
Transportation and transit infrastructure
is much more expensive than building so-
cial infrastructure such as hospitals, courts
and schools, which has been the province's
focus over the last decade. e numbers
can be eye watering. Projects already in the
pipeline include monster tickets such as the
Greater Toronto area's $13-billion Regional
Express Rail, the $5-billion Southwest Cal-
gary Ring Road and the $3-billion George
Massey Tunnel Replacement in BC.
e vast majority are being done as
Public-Private Partnerships, or P3s, with
governments offloading construction and
operation onto the private sector.
Bennett says one challenge to market
capacity is that governments have not tra-
ditionally worked together to stagger the
