Michael Rafalovich

Associate

Michael Rafalovich

Michael Rafalovich

Associate

Expertise
Bar Admissions
  • Ontario, 2019

Michael is developing a comprehensive corporate practice.

Michael has assisted on a range of transactions, including private equity fund formation and investments, mergers and acquisitions, financings, corporate governance and other corporate matters.

Michael Rafalovich

Associate

Michael is developing a comprehensive corporate practice.

Michael has assisted on a range of transactions, including private equity fund formation and investments, mergers and acquisitions, financings, corporate governance and other corporate matters.

McCain Foods Limited

Acted for McCain Foods Limited in establishing an acquisition credit facility with Farm Credit Corporation to fund a portion of the purchase price of McCain's C$70-million acquisition of Hillspring Farms Ltd., a Canadian farmer of potatoes.

SEMAFO Inc.

Acted as counsel to SEMAFO Inc. in its US$2.1-billion business combination with Endeavour Mining Corporation by way of plan of arrangement under the Business Corporations Act (Québec).

Bank of Montreal, Royal Bank of Canada and The Bank of Nova Scotia

Acted for Bank of Montreal, Royal Bank of Canada and The Bank of Nova Scotia, as lenders, in the establishment of approximately $1.1 billion in secured margin loan facilities made available to a number of shareholders of GFL Environmental Holdings Inc. The margin loans were established in connection with the initial public offering of subordinate voting shares and tangible equity units of GFL Environmental Inc.

InstarAGF Asset Management Inc.

Acted for InstarAGF Asset Management Inc. in the formation of US$1.2-billion InstarAGF Essential Infrastructure Fund II, an infrastructure fund focused on investments in North America, with limited partners from Canada, U.S., Europe and Asia.

Agnico Eagle Mines Limited

Acted for Agnico Eagle Mines Limited to establish a base shelf prospectus qualifying up to US$1 billion of securities in Canada and the United States under the multi-jurisdictional disclosure system.

Fortis Inc.

Acted for Fortis Inc. with concurrent offerings of common shares for aggregate proceeds of approximately $1.2 billion. The offerings included a $690-million bought deal in Canada and the U.S. using the multijurisdictional disclosure system, including the exercise by the underwriters of their over-allotment option, and a concurrent $500-million registered direct offering to an institutional investor. Each of the offerings was made pursuant to a prospectus supplement under Fortis' existing base shelf prospectus.

Business Development Bank of Canada

Acted for Business Development Bank of Canada in its investment, as an anchor investor, in Amplitude Ventures, a venture capital fund focused principally on the health and the life sciences sectors.

Enerflex Ltd.

Acted for Enerflex Ltd. in the negotiation and establishment of a $725-million second amended and restated revolving credit facility.

Axium Infrastructure Inc. and The Manufacturers Life Insurance Company

Acted for Axium Infrastructure Inc. and The Manufacturers Life Insurance Company in a private placement in Canada and the United States of over $1 billion of fixed rate bonds in order to refinance bridge loans used to complete their recent acquisition of AltaGas Ltd.'s remaining 55% interest in three hydroelectric projects in northwest British Columbia.

Ironbridge Equity Partners

Acted for Ironbridge Equity Partners on the acquisition and related financing of Canada Metal (Pacific) Limited, a leading manufacturer and distributor of branded products serving the recreational marine, commercial marine and industrial markets.

Axium Infrastructure Inc. and The Manufacturers Life Insurance Company

Acted for Axium Infrastructure Inc. and The Manufacturers Life Insurance Company in their joint $1.4-billion acquisition of AltaGas Ltd.'s remaining 55% interest in three hydroelectric projects in northwest British Columbia: the 195 MW Forrest Kerr Hydroelectric Facility, the 66 MW McLymont Creek Hydroelectric Facility and the 16 MW Volcano Creek Hydroelectric Facility.

TD Securities Inc., CIBC World Markets Inc. and Desjardins Securities Inc.

Acted for a syndicate of agents, led by TD Securities Inc., CIBC World Markets Inc. and Desjardins Securities Inc., in a private placement of an additional $75-million senior unsecured Series B notes due June 1, 2021, issued by Crombie Real Estate Investment Trust.

Osgoode Hall Law School—The Harley D. Hallett Scholarship; The Thorsteinssons Prize in Taxation of Business Enterprises; The Walker Law Prize; The Matthew Wilson Memorial Prize

Bar Admissions

Ontario, 2019

Education

Osgoode Hall Law School, JD, 2018
Laurentian University, BA (Hons) (Magna Cum Laude), 2015

Michael is developing a comprehensive corporate practice.

Michael has assisted on a range of transactions, including private equity fund formation and investments, mergers and acquisitions, financings, corporate governance and other corporate matters.

McCain Foods Limited

Acted for McCain Foods Limited in establishing an acquisition credit facility with Farm Credit Corporation to fund a portion of the purchase price of McCain's C$70-million acquisition of Hillspring Farms Ltd., a Canadian farmer of potatoes.

SEMAFO Inc.

Acted as counsel to SEMAFO Inc. in its US$2.1-billion business combination with Endeavour Mining Corporation by way of plan of arrangement under the Business Corporations Act (Québec).

Bank of Montreal, Royal Bank of Canada and The Bank of Nova Scotia

Acted for Bank of Montreal, Royal Bank of Canada and The Bank of Nova Scotia, as lenders, in the establishment of approximately $1.1 billion in secured margin loan facilities made available to a number of shareholders of GFL Environmental Holdings Inc. The margin loans were established in connection with the initial public offering of subordinate voting shares and tangible equity units of GFL Environmental Inc.

InstarAGF Asset Management Inc.

Acted for InstarAGF Asset Management Inc. in the formation of US$1.2-billion InstarAGF Essential Infrastructure Fund II, an infrastructure fund focused on investments in North America, with limited partners from Canada, U.S., Europe and Asia.

Agnico Eagle Mines Limited

Acted for Agnico Eagle Mines Limited to establish a base shelf prospectus qualifying up to US$1 billion of securities in Canada and the United States under the multi-jurisdictional disclosure system.

Fortis Inc.

Acted for Fortis Inc. with concurrent offerings of common shares for aggregate proceeds of approximately $1.2 billion. The offerings included a $690-million bought deal in Canada and the U.S. using the multijurisdictional disclosure system, including the exercise by the underwriters of their over-allotment option, and a concurrent $500-million registered direct offering to an institutional investor. Each of the offerings was made pursuant to a prospectus supplement under Fortis' existing base shelf prospectus.

Business Development Bank of Canada

Acted for Business Development Bank of Canada in its investment, as an anchor investor, in Amplitude Ventures, a venture capital fund focused principally on the health and the life sciences sectors.

Enerflex Ltd.

Acted for Enerflex Ltd. in the negotiation and establishment of a $725-million second amended and restated revolving credit facility.

Axium Infrastructure Inc. and The Manufacturers Life Insurance Company

Acted for Axium Infrastructure Inc. and The Manufacturers Life Insurance Company in a private placement in Canada and the United States of over $1 billion of fixed rate bonds in order to refinance bridge loans used to complete their recent acquisition of AltaGas Ltd.'s remaining 55% interest in three hydroelectric projects in northwest British Columbia.

Ironbridge Equity Partners

Acted for Ironbridge Equity Partners on the acquisition and related financing of Canada Metal (Pacific) Limited, a leading manufacturer and distributor of branded products serving the recreational marine, commercial marine and industrial markets.

Axium Infrastructure Inc. and The Manufacturers Life Insurance Company

Acted for Axium Infrastructure Inc. and The Manufacturers Life Insurance Company in their joint $1.4-billion acquisition of AltaGas Ltd.'s remaining 55% interest in three hydroelectric projects in northwest British Columbia: the 195 MW Forrest Kerr Hydroelectric Facility, the 66 MW McLymont Creek Hydroelectric Facility and the 16 MW Volcano Creek Hydroelectric Facility.

TD Securities Inc., CIBC World Markets Inc. and Desjardins Securities Inc.

Acted for a syndicate of agents, led by TD Securities Inc., CIBC World Markets Inc. and Desjardins Securities Inc., in a private placement of an additional $75-million senior unsecured Series B notes due June 1, 2021, issued by Crombie Real Estate Investment Trust.

Osgoode Hall Law School—The Harley D. Hallett Scholarship; The Thorsteinssons Prize in Taxation of Business Enterprises; The Walker Law Prize; The Matthew Wilson Memorial Prize

Bar Admissions

Ontario, 2019

Education

Osgoode Hall Law School, JD, 2018
Laurentian University, BA (Hons) (Magna Cum Laude), 2015