February 12, 2013
Torys represented the lenders to Rideau Transit Group with a team that included Mark Bain, Scott Kraag, Tara Mackay, Simon Williams, Sabrina Kumar and Graeme Murray.
On February 12, 2013, Rideau Transit Group (ACS Infrastructure Canada/SNC-Lavalin/EllisDon) reached financial close on the C$1.8 billion Ottawa Light Rail Transit AFP Project, Ontario's first commuter rail AFP project and one of the largest municipal AFP projects completed in Canada to date.
Torys represented National Bank of Canada, Sumitomo Mitsui Banking Corporation, The Bank of Nova Scotia and The Bank of Tokyo-Mitsubishi UFJ, Ltd., as short term lenders, and National Bank Financial Inc. and Sun Life Assurance Company of Canada, as underwriters in respect of the long term facility.
Rideau Transit Group will be responsible for the construction of 12.5 kilometres of guideway, 13 new stations and a 2.5 kilometre tunnel. In addition to the construction, Rideau Transit Group will widen parts of Highway 417, supply the light rail transit vehicles, build a maintenance and storage facility and provide 30 years of maintenance.