WWW.LEXPERT.CA
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2016
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LEXPERT 41
e project is the world's only refinery designed from
the ground up to incorporate gasification and a carbon
capture and storage solution, while meeting North
America's new low carbon standards.
e bonds were successfully sold in Canada only and
are composed of a three-tranche offering of $200-mil-
lion 4.75-per-cent Series G Secured Bonds due June
1, 2037, $500-million 4.15-per-cent Series H Secured
Bonds due June 1, 2033, and $500-million 4.35-per-
cent Series I Secured Bonds due January 10, 2039.
Bennett Jones LLP was counsel to North West
Redwater Partnership. e Bennett Jones team was led
by Darrell Peterson and included Phil Backman, Tessa
Guenther and Kris Simard.
Blake, Cassels & Graydon LLP represented the
Agents (BMO Nesbitt Burns Inc., CIBC World Mar-
kets Inc., TD Securities Inc., J.P. Morgan Securities
Canada Inc., RBC Dominion Securities Inc., Scotia
Capital Inc., Merrill Lynch Canada Inc., Barclays Cap-
ital Canada Inc., Citigroup Global Markets Canada
Inc., BNP Paribas (Canada) Securities Inc., National
Bank Financial Inc., AltaCorp Capital Inc., Desjardins
Securities Inc. and Casgrain & Company Ltd.).
e Blakes team consisted of Tim Andison, Gordon
McKenna, Charles McRoberts and Joe Zed.
KELT COMPLETES ITS CONVERTIBLE
DEBENTURE FINANCINGS
CLOSING DATE: MAY 3, 2016
On May 3, 2016, Kelt Exploration Ltd. (Kelt) an-
nounced that it had closed its convertible debenture fi-
nancing by way of a short form prospectus on a bought
deal basis, completing the sale of $75 million principal
amount of 5 per cent convertible subordinated unse-
cured debentures (Debentures) at a price of $1,000 per
Debenture (the Offering).
e Offering was completed through a syndicate
of underwriters co-led by Peters & Co. Ltd. and First-
Energy Capital Corp., and including National Bank
Financial Inc., Cormark Securities Inc., TD Securi-
ties Inc., CIBC World Markets Inc., RBC Capital
Markets, GMP Securities L.P., Macquarie Capital
Markets Canada Ltd., Raymond James Ltd., Scotia
Capital Inc., AltaCorp Capital Inc. and BMO Capital
Markets (the Underwriters).
Kelt also announced the completion of its private
placement offering to certain directors, officers and
employees of the Company, along with certain other
subscribers, on a non-brokered basis, of an additional
$15 million principal amount of Debentures at a price
of $1,000 per Debenture.
Kelt was represented by Borden Ladner Gervais
LLP with a team led by William Guinan and that in-
cluded Louise Lee, Lloyd McLellan, Ravi Latour and
Scott Robson (securities), Lindsay Holmes and Rich-
ard Eisenbraun (tax).
Burnet, Duckworth & Palmer LLP represented
the Underwriters with a team led by Steven Cohen and
that included Jessica Brown and Shanlee von Vegesack.
Yorke-Slader, QC, Blair C. Bennett Jones LLP
(403) 298-3291 yorkesladerb@bennettjones.com
Mr. Yorke-Slader is a partner in Bennett Jones's litigation department and
Vice-Chairman of the firm. A leading practitioner in high stakes corporate
and commercial litigation with an active trial and appellate business and
energy litigation practice, he is the only Alberta fellow of the International
Academy of Trial Lawyers. He also has broad arbitration experience
as counsel and as an arbitrator.
Wong, Richard G.C. Osler, Hoskin & Harcourt LLP
(416) 862-6467 rwong@osler.com
Mr. Wong is a partner in the Energy group and co-chair of the Construction
& Infrastructure group at Osler. As a front-end solicitor recognized in
Chambers and other publications, Richard advises participants on efficient
risk allocation in developing and financing major capital projects in the
Canadian energy sector including renewables, nuclear waste management
and natural resource projects.
Wong, Lilly A. Gowling WLG
(416) 369-4630 lilly.wong@gowlingwlg.com
Ms. Wong is a senior practitioner specializing in the financial services
and insolvency and restructuring areas. She has led many infrastructure and
energy project finance loans and a wide range of other types of domestic
and international loans.
LEXPERT-RANKED LAWYERS
Zalmanowitz, QC, Barry Dentons Canada LLP
(780) 423-7344 barry.zalmanowitz@dentons.com
Mr. Zalmanowitz's competition and Investment Canada Act practice
includes a focus on the oil & gas, restructured electricity, and oil & gas
service sectors. His experience embraces M&A, criminal, private damage
and reviewable practices issues. He is co-chair of the firm's National
Competition Law Group.
Zacher, Glenn M. Stikeman Elliott LLP
(416) 869-5688 gzacher@stikeman.com
Mr. Zacher practises commercial/administrative litigation and energy
regulation. He is the co-chair of the firm's Energy Group. He represents
clients before courts and tribunals (including the OEB, NEB, Supreme Court
of Canada) in regulatory, compliance and appeal proceedings. His clients
include public agencies and private-sector energy companies.
