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Acted for Toromont Industries Ltd. in its successful cash and share unsolicited takeover bid to acquire Enerflex Systems Income Fund, resulting in a $684 million supported transaction, and also acted for Toromont in establishing an unsecured $450 million term credit facility with a syndicate of banks to finance the acquisition. |
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2010 |
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Acted as lead counsel for the Miami Access Tunnel consortium, comprised of Meridiam Infrastructure, Bouygues Travaux Publics and Transfield Services Ltd. for the design, build, finance, operation and maintenance of the US$1 billion greenfield Port of Miami Tunnel project. Over its 35-year term, this Project will involve the design, construction and operation of two 4,000 foot long tunnels connecting the Port of Miami (Dodge Island) to Watson Island, the widening of the MacArthur Causeway Bridge and the construction of the necessary connections to the Port of Miami roadway system. Davies also acted as lead counsel for the consortium on the financing of the Project, with the senior debt financing of US$340 million being provided through a club of 10 international banks and the subordinated debt financing of US$341 million being provided as a 35-year fixed rate loan by the United States Department of Transportation under the federal TIFIA (Transportation Infrastructure Finance and Innovation Act of 1998) program. This project was awarded in 2009 the Americas PPP Deal of the Year by each of Project Finance International and Project Finance magazine.
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2009 |
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Acted for Agnico-Eagle Mines Limited with respect to an amended and restated US$600 million unsecured revolving credit facility that matures June 2012. The facility amends and restates a US$300 million facility of Agnico-Eagle that was scheduled to mature September 2010. At the same time, Agnico-Eagle amended and restated its other US$300 million unsecured revolving credit facility that is scheduled to mature January 2013. As a result of these transactions, Agnico-Eagle now has US$900 million of credit lines. |
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2009 |
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Acted for Industrial and Commercial Bank of China Limited, a leading global bank headquartered in China, in its acquisition of 70% of The Bank of East Asia (Canada), a Canadian chartered bank, in a deal valued at $80 million. |
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2009 |
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Acted for the sponsors of approximately 12 of the 22 conduits as well as DBRS Limited, the credit rating agency which rated the commercial paper issued by the restructured entities, in connection with the $32 billion Canadian Third Party ABCP restructuring. |
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2009 |
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Acted as Canadian counsel to Anheuser-Busch on Canadian regulatory matters in respect of its acquisition by InBev in a deal valued at approximately US$50 billion, creating the world's leading global brewer. |
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2008 |
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Acted for Rogers Communications Inc. in its US$1.75 billion underwritten public offering of debt securities, consisting of US$1.40 billion aggregate principal amount of 6.80% senior notes due 2018 and US$350 million aggregate principal amount of 7.50% senior notes due 2038, made in the United States pursuant to the Multi-jurisdictional Disclosure System. |
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2008 |
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Acted for Agnico-Eagle Mines Limited as it entered into a $300 million unsecured revolving credit facility made available by a syndicate of domestic and foreign lenders. |
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2008 |
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Acted for Dundee Securities Corporation in connection with the restructuring of approximately $2 billion of short-term debt obligations and contractual obligations of Skeena Capital Trust, a Canadian third-party asset-backed commercial paper conduit. This transaction was the first negotiated restructuring of a Canadian third-party asset-backed commercial paper conduit affected by the August 2007 Canadian asset-backed commercial paper market disruption. |
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2007 |
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Davies acted as counsel for a syndicate of banks in the US$2.5 billion credit financing offered by Novelis Inc. and for the initial purchasers in the US$1.4 billion issuance of senior notes, as part of Alcan Inc.'s spin-off of its aluminum rolled products business. Davies provided corporate finance and securities, tax, environmental and commercial real estate advice. |
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2005 |
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Agnico-Eagle Mines Limited, a Canadian gold producer, entered into a revolving credit facility of up to US$100 million made available by a syndicate of domestic and foreign lenders. |
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2004 |
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Acted for Russel Metals Inc. and FIL (US) Inc., its wholly-owned subsidiary, on the completion of a refinancing by replacing their existing credit facility with a $200 million committed term revolving credit facility. Royal Bank of Canada led the syndicate which included a number of Canadian and US financial institutions. |
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2004 |
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Shred-it International Inc. completed two new credit facilities: a senior syndicated secured facility led by CIBC and a subordinated syndicated facility led by CIBC Capital Partners. Proceeds of the loans were used to repay existing credit facilities and are also available to finance the continuing growth of Shred-it. The amount of the transaction is undisclosed. |
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2004 |
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Acted for Hemosol Inc. in the reorganization under a plan of arrangement involving its principal shareholder MDS Inc., which allowed Hemosol's business to receive a cash infusion of $16 million for its unused tax losses and other tax assets. |
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2004 |
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Acted for Alimentation Couche-Tard Inc. in the sale-leaseback of over 300 convenience store/gas station properties in eleven states to entities affiliated with Realty Income Corporation and Fortress Credit Corporation for purchase prices aggregating over $225 million. |
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2004 |
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Acted for CML Healthcare Inc. in its $1.25 billion plan of arrangement that resulted in the creation of two new entities, CML Healthcare Income Fund, an income trust owning CML's diagnostic services business, and Cipher Pharmaceuticals Inc., a pharmaceutical corporation owning CML's drug development and pharmaceutical research business. As part of the arrangement, CML also entered into new credit facilities in the amount of $200 million with a syndicate of lenders. |
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2004 |
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Acted for CIBC World Markets Inc. in connection to the $85.7 million initial public offering of Richards Packaging Income Fund. |
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2004 |
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$250 million senior subordinated bridge loan commitment to Canadian Oil Sands Limited to partly fund the acquisition of a 10% interest in Syncrude joint venture from EnCana Corporation. |
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2003 |
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Acted for Alimentation Couche-Tard Inc. on its acquisition of The Circle K Corp. in a transaction valued at $1.06 billion. |
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2003 |
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Private placement of US$450 million of senior notes of Cascades Inc. to institutional investors in connection with the refinancing of Cascades' credit facilities and credit lines. |
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2003 |
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Loan (US$50 million) and equity participation by CIBC WMC Inc. in connection with borrower's development project and acquisition of public company. |
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2003 |
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Purchase of a part of British Energy plc's indirect interest in Bruce Power LP in cooperation with The Society of Energy Professionals Trust. |
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2003 |
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Offerings by Canada Housing Trust No. 1, of over $20 billion principal amount of bonds (issued in various series) guaranteed by Canada Mortgage and Housing Corporation (CMHC). |
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2003 |
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Offering of US$125 million of senior secured note units using a cross-border dual note financing structure. |
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2002 |
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Acquisition of A.& C. Boehmer Limited by Roman Corporation Limited. |
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2002 |
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