LEXPERT MAGAZINE
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JANUARY/FEBRUARY 2017 27
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CORPORATE TRANSACTIONS OF IMPORTANCE
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e fourth re-opening of the offering was
completed by a syndicate of underwriters.
e syndicate of underwriters was led by
CIBC World Markets Inc., BMO Nesbitt
Burns Inc., RBC Dominion Securities Inc.,
National Bank Financial Inc., Scotia Capi-
tal Inc., and e Toronto-Dominion Bank,
and also included, Desjardins Securities
Inc., Casgrain & Co. Ltd., HSBC Securities
(Canada) Inc., Laurentian Bank Securities
Inc., Merrill Lynch Canada Inc., and Canac-
cord Genuity Group Inc.
e Province of Alberta was represented
internally by Michael Gluckman and Chris-
topher Ontkean of Alberta Justice and So-
licitor General.
e underwriters were represented by Jon
Truswell and Jordan Primeau of Bennett
Jones LLP.
Consumer Services Energy & Power Pipelines
Aerospace & Defence Automotive Materials
Utilities Financials Health Research
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E-Commerce Construction & Engineering
Consumer Staples
CHAUDIERE HYDRO
COMPLETES BOND FINANCING
CLOSING DATE: SEPTEMBER 7, 2016
On September 7, 2016, Chaudiere Hydro
Limited Partnership, which is an affiliate of
Hydro Ottawa, completed a private place-
ment of an aggregate of $203,802,000 Se-
nior Secured Amortizing Bonds.
e proceeds of this transaction are be-
ing used to finance the construction of the
Chaudiere Hydro L.P. Expansion Project, a
29.35 megawatt hydroelectric generation fa-
cility located on the Ottawa River near the
Chaudière Falls in the City of Ottawa.
Chaudiere Hydro L.P. (and related par-
ties) were represented in-house by Paul
Hughes, General Counsel, and by Dentons
Canada LLP with a team in Ottawa that in-
cluded Phil Rimer, Rob Davis, Kelly Elliott
and Rachel Witherspoon, with assistance
from Ryan Chalmers and Jeff Walls of the
Vancouver office and Jonathan Nuss of the
Montréal office.
BMO Capital Markets was the sole agent
in connection with the private placement
offering. BMO was represented by McCar-
thy Tétrault LLP with a team in Toronto
that included Jonathan See, Seán O'Neill,
Isabel Henkelman, Heloise Apesteguy-Reux,
Abraham Costin, Lama Sabbagh, Zachary
Masoud and Danny McMullen. e team
received assistance from Mary Pagonis of the
Montréal office.
TORQUEST PARTNERS
COMPLETES INVESTMENT
IN MCKEIL MARINE
CLOSING DATE: OCTOBER 21, 2016
On October 21, 2016, McKeil Marine
("McKeil") and TorQuest Partners ("Tor-
Quest") finalized TorQuest's investment in
McKeil. e transaction as carried out in
partnership with existing management and
shareholders, to support the company's next
phase of growth. Terms of the investment
were not disclosed.
In support of the acquisition, PNC Bank
Canada Branch, as agent, provided a revolv-
ing asset-based credit facility in favour of Ma-
rine Work Boats LP, and its Canadian sub-
sidiaries. PNC Bank Canada Branch acted
as agent a joint lead arranger (together with
e Bank of Nova Scotia) for a syndicate of
Canadian and US lenders.
McKeil is a leading Canadian provider of
marine transportation and project services
for a wide range of customers and industry
sectors across the Great Lakes, St. Lawrence
Seaway, East Coast and the Canadian Arctic.
Founded in 2002, TorQuest Partners is a
Canadian-based manager of private equity
funds. With more than $2 billion of equity
capital under management, TorQuest invests
in middle-market companies. TorQuest also
works in close partnership with management
to build value for shareholders.
TorQuest was represented externally by
Torys LLP with a team comprising Mat-
thew Cockburn, Jackie Taitz, Geoff Kelsall
and Crystal Chung (mergers and acquisi-
tion) and Tom Zverina, Daniel Doubilet and
Jacob Weinstock (financial services).
Blair McKeil and McKeil Work Boats
were represented externally by Blake, Cas-
sels & Graydon LLP with a legal team
comprising David Kruse, Matthew Mundy,
Andrew Cyr and Whitney Robinson (merg-
ers and acquisitions), Alexis Levine (financial
services), Paul Stepak and Ian Caines (taxa-
tion), Holly Reid (employment), Doug Tay-
lor (environmental) and Ian Breneman (ma-
rine regulatory).
Norton Rose Fulbright Canada LLP
represented PNC Bank with a team compris-
ing David Amato, Amanda Fortuna, Vanessa
Rochester (marine), Jeff Spiegel (M&A) and
Zachary Frenkiel (Québec).
Consumer Services Energy & Power Pipelines
Aerospace & Defence Automotive Materials
Utilities Financials Health Research
Media & Entertainment Recreation & Leisure Advertising & Marketing
E-Commerce Construction & Engineering
Consumer Staples
MARRIOTT INTERNATIONAL
COMPLETES ACQUISITION
OF STARWOOD HOTELS
& RESORTS WORLDWIDE
CLOSING DATE: SEPTEMBER 23, 2016
On September 23, 2016, Marriott Interna-
tional, Inc. (NASDAQ: MAR) completed
its acquisition of Starwood Hotels & Re-
sorts Worldwide, Inc. (NYSE: HOT), cre-
ating the world's largest hotel company. e
US$13-billion merger combines Marriott
brands, including Ritz-Carlton, Courtyard
and Residence Inn, with W Hotels, Westin,
Sheraton and other Starwood brands.
e combined company will operate or
franchise more than 5,700 properties and
1.1 million rooms, representing 30 leading
brands in over 110 countries, and will control
more than one out of every 15 hotel rooms in
the world. Marriott operated and franchised
hotels and vacation ownership resorts with
more than 4,400 properties in 87 countries;
and Starwood had nearly 1,300 properties in
approximately 100 countries.
Marriott was represented by its in-house
counsel with a team that included Edward
Ryan, David Mann, Ward Cooper, David
Manderscheid and Gordon Klepper, and
by Gibson, Dunn & Crutcher LLP with a
team that included Stephen Glover, Jonathan
Corsico, Alisa Babitz, Matthew Dubeck,
Saee Muzumdar, Andrew Hirsch, Alexan-
der Orr and Quinton Farrar (M&A), Ar-
thur Pasternak and Benjamin Rippeon (tax),
Janet Vance and Aaron Adams (finance),
James Moloney (securities), Michael Collins
(executive compensation and benefits) and
Joshua Lipton and Joshua Soven (antitrust);
and assisted in Canada by Stikeman Elliott
LLP with a team that included John Leop-
old, Sophie Lamonde and Allison Jaskolka
(corporate) and Paul Collins, Michael Kilby
and Katarina Zoricic (regulatory).
Starwood was represented by Cravath,
Swaine & Moore LLP. e Cravath team
for Starwood included partners Damien
Zoubek and Keith Hallam (M&A), Joseph
Zavaglia (spin-off of Starwood's time share
business), Lauren Angelilli (tax), Eric Hilfers
and Jonathan Katz (executive compensation
and benefits); Matthew Morreale (environ-
mental), Christine Varney (antitrust) and
Sandra Goldstein (litigation).
