Four Torys deals recognized at the IJGlobal Americas Awards
Torys is proud to announce that four infrastructure transactions we advised on in 2019 have been recognized at theIJGlobal Americas Awards.
The awards recognize excellence in deals that reached financial close across the Americas this past year. The winning deals were selected by the IJGlobal’s editorial team who conducted extensive research across each market.
See below for more information on Torys’ winning deals.
Torys is acting as project counsel to Wataynikaneyap Power in the largest First Nations-led infrastructure project in Canadian history.
Due to be completed in 2023, the C$1.9 billion Wataynikaneyap Transmission Project—being developed by Wataynikaneyap Power, a partnership between 24 First Nations and FortisOntario Inc.—is a 1,725 km system connecting 17 remote First Nations communities to the provincial electricity system in Northwestern Ontario. This transaction was also named Transmission Deal of the Year 2020 by Power Finance & Risk.
North America Social Infrastructure Deal of the Year
Torys acted for the Government of Newfoundland and Labrador and the Western Regional Health Authority as the public authorities for the C$750 million Corner Brook Acute Care Hospital PPP project to design, build, finance, and maintain a new seven-story, 600,000 square-foot hospital in Corner Brook, Newfoundland and Labrador.
Torys acted for the lenders to Mobilinx (Astaldi/John Laing/Transdev/Amico/Hitachi), the successful proponent for the C$4.6 billion Hurontario Light Rail Transit (LRT) PPP project to design, build, finance, operate, and maintain a new 18 km integrated LRT system with 19 stops along Hurontario Street, connecting Mississauga and Brampton in Ontario. This transaction was also named North America Rail Deal of the Year 2019 by Proximo.
North America Mining Deal of the Year
Nevada Copper, Pumpkin Hollow
Torys represented Nevada Copper in its US$176.4 million financing package to advance the construction and development of the underground mine at its Pumpkin Hollow Copper Project. The financing package included a US$115 million project financing facility made available by KfW IPEX-Bank, as well as a US$26.4 million cost overrun facility and a US$35 million working capital facility with Concord Resources Limited.
Torys also represented Nevada Copper in its C$40 million equity offering, including a C$24.8 million public offering of common shares and a C$15.2 million private placement of common shares, from which proceeds were expected to be used for the construction and ramp-up of the project.