Stuart Berger

Partner

Stuart Berger

Stuart Berger

Partner

Stuart’s strong work ethic, business background and keen attention to detail provide his clients with a high level of service.

He advises investment banks and public and private companies on capital markets and securities transactions, both domestic and cross-boarder, including debt and equity offerings (public and private). Stuart also advises clients on corporate matters, mergers and acquisitions and finance. He handles mid- to large-size files across a broad range of industries including telecommunications, media, energy and finance with clients in Canada and the United States.

Stuart also participates in multiple mentorship and training programs both within and outside of the firm. He is highly regarded by many of his peers, who consider him a valuable source of knowledge.

Stuart Berger

Partner

Stuart’s strong work ethic, business background and keen attention to detail provide his clients with a high level of service.

He advises investment banks and public and private companies on capital markets and securities transactions, both domestic and cross-boarder, including debt and equity offerings (public and private). Stuart also advises clients on corporate matters, mergers and acquisitions and finance. He handles mid- to large-size files across a broad range of industries including telecommunications, media, energy and finance with clients in Canada and the United States.

Stuart also participates in multiple mentorship and training programs both within and outside of the firm. He is highly regarded by many of his peers, who consider him a valuable source of knowledge.

Rogers Communications Inc.

Acted for Rogers Communications Inc. to establish its shelf prospectus, qualifying an unspecified amount of future public offerings of debt securities and preferred shares in Canada. 

RBC Capital Markets, LLC and RBC Dominion Securities Inc.

Acted for RBC Capital Markets, LLC and RBC Dominion Securities Inc. on the US$723.4-million cross-border secondary offering of subordinate voting shares of GFL Environmental Inc.

Rogers Communications Inc.

Acted as Canadian counsel for Rogers Communications Inc. in its US$2.5-billion U.S. public offering of two series of senior notes registered via the multi-jurisdictional disclosure system.

J.P. Morgan Securities Inc.

Acted as Canadian counsel to the initial purchasers, led by J.P. Morgan, in the private placement of US$1 billion of senior secured notes of GFL Environmental Inc.

Rogers Communications Inc.

Acted for Rogers Communications Inc. in a C$3-billion Canadian private placement of senior notes issued across four tranches.

Rogers Communications Inc.

Acted as Canadian counsel for Rogers Communications Inc. in its offer to exchange any and all of its outstanding US$7.05-billion senior notes previously issued under a private placement for an equal principal amount of new notes with substantially identical terms that are registered under the U.S. Securities Act of 1933.

Rogers Communications Inc.

Acted for Rogers Communications Inc. to establish its U.S. registration statement, registering up to US$8 billion of future public offerings of debt securities and preferred shares in the United States pursuant to the multijurisdictional disclosure system.

BofA Securities

Acted as Canadian counsel to the initial purchasers, led by BofA Securities, in the add-on private placement of US$125 million of senior secured notes of a Canadian private issuer. 

Goldman Sachs & Co.

Acted for Goldman Sachs & Co. LLC on the US$658-million cross-border secondary offering of subordinate voting shares of GFL Environmental Inc.

Barrick Gold Corporation

Acted for Barrick Gold Corporation to establish a base shelf prospectus qualifying up to US$4 billion of securities in Canada and the United States under the multijurisdictional disclosure system.

BofA Securities

Acted as Canadian counsel to the initial purchasers, led by BofA Securities, in the add-on private placement of US$100 million of senior secured notes of a Canadian private issuer. 

BofA Securities

Acted as Canadian counsel to the initial purchasers, led by BofA Securities, in the follow-on private placement of US$500 million of senior secured notes of a Canadian private issuer.

BofA Securities

Acted as Canadian counsel to the initial purchasers, led by BofA Securities, in the private placement of US$300 million of high-yield notes of a Canadian private issuer.

BMO Capital Markets

Acted for the underwriters led by BMO Capital Markets in the offering of C$500-million Ukraine Sovereignty Bonds by the Government of Canada to offer Canadians an opportunity to directly support Ukraine.

Kenco Group

Acted as Canadian counsel to Kenco Group, a top-ranked third-party logistics (3PL) company, in connection with its acquisition by private equity firm Pritzker Private Capital.

Rogers Communications Inc.

Acted for Rogers Communications Inc. in its separate but concurrent Canadian and U.S. consent solicitations for an amendment that extended the outside date (prior to which Rogers must consummate its acquisition of Shaw Communications) stipulated in the special mandatory redemption provisions of three series of its Canadian dollar senior notes (C$3-billion) and five series of its U.S. dollar senior notes (US$7.05-billion).

Beanfield Technologies Inc.

Acted for Beanfield Technologies Inc., a portfolio company of DigitalBridge, in its acquisition of Urbanfibre, a leading internet service and wholesale fibre provider operating in the Greater Vancouver Area.

Rogers Communications

Acted for Rogers Communications Inc. in a C$4.25-billion Canadian private placement of senior notes issued across four tranches, the largest-ever Canadian dollar issuance by a corporate in Canadian market history. Concurrently acted as Canadian counsel for Rogers Communications Inc. in a US$7.05-billion U.S. private placement of senior notes issued across five tranches, the largest-ever U.S. dollar issuance by a Canadian corporate issuer in U.S. market history. These offerings won Capital Markets Deal of the Year at the 2023 Canadian Law Awards.

Rogers Communications Inc.

Acted for Rogers Communications Inc. in its U.S. and Canadian private placement of US$750 million of fixed-to-fixed rate subordinated notes.

Beanfield Metroconnect

Acted for Beanfield Metroconnect, a portfolio company of DigitalBridge, in its acquisition of FibreStream, an Internet service provider operating in the Greater Toronto Area, Ottawa and Vancouver.

Rogers Communications Inc.

Acted for Rogers Communications Inc. in its Canadian private placement of $2 billion of fixed-to-fixed rate subordinated notes, the largest hybrid corporate bond issue in Canada to date.

Blackstone Infrastructure Partners L.P.

Acted as Canadian counsel to Blackstone Infrastructure Partners L.P. in its acquisition of the majority interest of Carrix, Inc., one of the world's largest marine-terminal operators.

Barrick Gold Corporation

Acted for Barrick Gold Corporation to establish a base shelf prospectus qualifying up to US$4 billion of securities in Canada and the United States under the multijurisdictional disclosure system.

DigitalBridge

Acted for DigitalBridge, the global digital infrastructure investment platform of Colony Capital, Inc., in connection with the sale of the Canadian data centres and the associated colocation business of one of its portfolio companies, Aptum Technologies, to eStruxture Data Centers Inc.

Russel Metals Inc.

Acted for Russel Metals Inc. in its Canadian private placement of $150 million of high yield notes due 2025 and the redemption of its outstanding high yield notes due 2022.

Beanfield Metroconnect

Acted for Beanfield Metroconnect, a portfolio company of DigitalBridge, in its acquisition of Epik Networks Inc., a Toronto-based telecommunications service provider.

Ironbridge Equity Partners

Acted for Ironbridge Equity Partners in its acquisition (and related financing) of a controlling interest in GNI Management Group Inc., a leading provider of insulation services, from Mill Street & Co.

Axium Infrastructure Inc.

Acted for Axium Infrastructure Inc. in its acquisition from Osaka Gas Co., Ltd. of a 50% interest in a portfolio of nine solar farms located in Ontario.

Rogers Communications Inc.

Acted for Rogers Communications Inc. in its US$750 million U.S. public offering of floating rate senior notes due 2022 registered via the multi-jurisdictional disclosure system.

BofA Securities, MUFG, Scotiabank and BMO Capital Markets

Acted as Canadian counsel to the initial purchasers, led by BofA Securities, MUFG, Scotiabank and BMO Capital Markets, in the private placement of US$600 million of notes of CCL Industries Inc.

DigitalBridge

Acted for DigitalBridge in connection with the additional $148.5 million of bank financing raised to recapitalize Beanfield Metroconnect and the related tuck-in acquisition by Beanfield of the fibre business of Aptum Technologies.

Rogers Communications Inc.

Acted for Rogers Communications Inc. to establish its Canadian shelf prospectus, qualifying up to $4 billion of future public offerings of debt securities in Canada, and its separate U.S. registration statement, registering up to US$4 billion of future public offerings of debt securities in the United States pursuant to the multijurisdictional disclosure system.

Rogers Communications Inc.

Acted for Rogers Communications Inc. in its $1.5 billion Canadian public offering of 3.65% senior notes due 2027.

CMP Group Ltd.

Acted for CMP Group Ltd., a portfolio company of Ironbridge Equity Partners, in its acquisition and related financing of the operating assets of MarineTech Products, Inc.

Beanfield Metroconnect

Acted for Beanfield Metroconnect, a portfolio company of DigitalBridge, in its acquisition of Openface Inc., the largest independent enterprise fibre solutions provider in Montréal.

Rogers Communications Inc.

Acted for Rogers Communications Inc. in its US$1.0-billion public offering of 3.70% senior notes due 2049, issued in the United States under the multijurisdictional disclosure system.

DigitalBridge

Acted for DigitalBridge in its acquisition (and related bank financing) of Beanfield Metroconnect, an independent bandwidth infrastructure provider serving the enterprise, carrier and multi-dwelling unit markets in Toronto and Montréal over its owned fibre network.

Enerflex Ltd.

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

Rogers Communications Inc.

Acted for Rogers Communications Inc. in its US$1.25-billion public offering of 4.35% senior notes due 2049, issued in the United States under the multijurisdictional disclosure system.

Rogers Communications Inc.

Acted for Rogers Communications Inc. in its $1-billion public offering of 3.25% senior notes due 2029, issued in Canada. This offering was supported by the largest single-tranche order book on record in Canada.

Barrick Gold Corporation

Acted for Barrick Gold Corporation to establish a base shelf prospectus qualifying up to US$4 billion of securities in Canada and the United States under the multijurisdictional disclosure system.

Axium Infrastructure Inc.

Acted for Axium Infrastructure Inc. in its acquisition from Mitsubishi Corporation of a 50% interest in a portfolio of nine solar farms located in Ontario.

Sleep Country Canada Holdings Inc.

Acted for Sleep Country Canada Holdings Inc. in its $88.7-million acquisition of Endy, one of Canada's leading mattress-in-a-box e-commerce players, and the financing of this acquisition through an increase in and amendment to its $210-million senior secured syndicated credit facility.

The Bank of Nova Scotia

Acted as counsel to The Bank of Nova Scotia, the administrative agent for a syndicate of lenders, in Pinnacle Renewable Holdings' US$37.1-million acquisition from The Westervelt Company of a 70% stake in an industrial wood pellet production facility in Alabama.

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.

Baffinland Iron Mines Corporation and Baffinland Iron Mines LP

Acted as Canadian counsel to Baffinland Iron Mines Corporation and Baffinland Iron Mines LP in their U.S. and Canadian private placement of US$575 million 8.750% senior secured notes, the repurchase and redemption of an existing series of US$350 million senior secured notes, an associated consent solicitation and an amendment and joinder to the existing revolving credit agreement to increase the aggregate of incremental commitments.

Blue Wolf Capital Partners LLC

Acted as Canadian counsel to Blue Wolf Capital Partners LLC on the acquisition and related financing of a majority stake in The State Group Inc., a leading North American multi-trade industrial and specialty services contractor.

Russel Metals Inc.

Acted for Russel Metals Inc. in its private placement of $150 million of high yield notes due 2026.

Enerflex Ltd.

Acted for Enerflex Ltd. in its private placement offerings of US$105 million of 4.67% senior unsecured notes due 2024, US$70 million of 4.87% senior unsecured notes due 2027, $15 million of 4.50% senior unsecured notes due 2024 and $30 million of 4.79% senior unsecured notes due 2027.

Xplornet Communications Inc.

Acted for Xplornet Communications Inc. in its U.S. and Canadian private placement of US$230 million in high yield notes, its US$75 million incremental secured term loan, its repurchase and redemption of existing high yield notes and its associated consent solicitation.

Fortis Inc.

Acted for Fortis Inc. in its $500-million public offering, by way of prospectus supplement, of 2.85% senior unsecured notes due 2023. Fortis established its first cross-border shelf prospectus on November 30, 2016, using the multijurisdictional disclosure system.

Fortis Inc.

Acted for Fortis Inc. in its US$2 billion notes offering under Rule 144A with registration rights in the United States. The net proceeds were used to finance a portion of the cash consideration for the previously announced acquisition of ITC Holdings Corp.

Fortis Inc.

Acted for Fortis Inc. in the US$1.2-billion sale of a 19.9% interest in ITC Holdings Corp. to GIC, a sovereign wealth fund of the Government of Singapore.

Bentall Kennedy (Canada) Limited Partner

Acted for the Bentall Kennedy Group, a premier real estate investment management firm operating in Canada and the United States, in its acquisition by Sun Life Financial Inc. for a purchase price of $560 million.

Crystallex International Corporation

Acting as counsel for the debtor in Crystallex International Corporation's proceedings under the Companies' Creditors Arrangement Act.

Osgoode Hall Law School—Honourable F.H. Barlow Scholarship; Davies Ward Phillips & Vineberg LLP Prize (Commercial Law, Business Associations, Securities Regulation and Taxation)

Bar Admissions

Ontario, 2017

Education

Osgoode Hall Law School, JD, 2016
Ivey Business School, University of Western Ontario, BA (Hons) (with Distinction), 2013