28 LEXPERT MAGAZINE
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JULY/AUGUST 2017
BIG DEALS
completed a $400-million private placement
of fixed-rate senior secured notes due No-
vember 30, 2029, to finance the long-term
operation of eight hydroelectric generating
facilities in Ontario. With a total installed
capacity of approximately 142 MW, H2O
Power is the third-largest provider of hydro-
electric power in Ontario. BMO Nesbitt
Burns Inc. and TD Securities Inc. acted as
placement agents for the offering.
Concurrently with the closing of the note
offering, H2O Power also obtained $33.5
million of senior secured credit facilities with
e Toronto-Dominion Bank and Bank of
Montreal. e notes and the credit facili-
ties rank pari passu. e credit facilities will
be used for the purposes of general working
capital and issuing certain letters of credit.
H2O Power Limited Partnership was rep-
resented by Blake, Cassels & Graydon LLP
with a team including Ian Binnie, Philippe
Bourassa, Patrick Menda, Anthony Lanou-
ette-Marier and Lisha Li (corporate/com-
mercial/project finance), Joe Zed and Kend-
all Grant (securities), John Hutmacher (real
estate) and Sharon Wong (regulatory).
BMO and TD were represented by Da-
vies Ward Phillips & Vineberg LLP with
a team including Carol Pennycook, Gillian
Stacey, Anthony Spadaro and Angela Susac
(banking and project finance), Sarah Powell
(environmental and regulatory) and Steven
Willard (real estate).
PSP was represented by Catherine Isabelle,
its Director of Legal Affairs.
STONE CANYON INDUSTRIES,
LLC AND BWAY ACQUIRE
MAUSER GROUP N.V.
CLOSING DATE: APRIL 3, 2017
On April 3, 2017, Stone Canyon Industries,
LLC (SCI) announced the successful clos-
ing of its previously announced purchase
agreement to acquire Mauser Group N.V.
(Mauser), a global supplier of rigid packaging
products and services for industrial use, from
Clayton, Dubilier & Rice (CD&R), through
its subsidiary BWAY Corp. (BWAY), a lead-
ing North American manufacturer of rigid
metal and plastic containers.
e all-cash transaction is valued at ap-
proximately US$2.3 billion.
With revenues of over €1.4 billion, Mauser
manufactures and supplies plastic and steel
drums and intermediate bulk containers
and is also the leading provider of recondi-
tioning services for used plastic drums and
IBCs. Mauser's 4,500 employees operate 111
manufacturing facilities in 88 strategic loca-
tions across 18 countries in Europe, North
America, South America and Asia.
SCI's ownership of BWAY and Mauser
creates a global leader in containers and pack-
aging for the chemical, industrial and food
and beverage industries, among others.
Gibson, Dunn & Crutcher LLP acted
as counsel to BWAY, owned by SCI. e
Gibson Dunn team was led by Jonathan
Layne, Candice Choh and Dirk Oberbracht
(corporate), and included Birgit Friedl, Dan-
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