Biggest stock and debt deals in B.C. in 2017

 

Ranked by size of the deal in CAD

Published in BIV's print edition on April 3, 2018. Updated April 10, 2018: Blake, Cassels & Graydon LLP was not credited in the print version for participation in deals #30, #74 (JDL) and #79. Updated May 10, 2018: Fort Capital Partners was not credited in the print version for participation in #12.

Scroll down to download the list, as well as versions from previous years. One of two lists that make up the Top 100 Corporate Finance Deals of 2017; see also biggest B.C. (non-mining) mergers and acquisitions of 2017. Sources: Interviews with companies below, agents and/or advisers and BIV research. Foreign currency has been converted using Bank of Canada's closing rate on date of deal announcement. NP = Not provided

For mining M&As, see biggest B.C. mining mergers and acquisitions of 2017

Rank '18 Recipient company Sector Date deal closed Deal description Partial list of law firms involved Partial list of underwriters and advisers involved Deal value in CAD
1

Gateway Casinos & Entertainment Ltd
Privately held
gatewaycasinos.com

Gaming

22-Feb-17

Refinancing of Gateway's existing credit facilities, secured a new capital structure to support growth initiatives

Morgan Stanley: McCarthy Tetrault LLP, Cahill Gordon & Reindel LLP; Gateway: Bennett Jones LLP, Latham & Watkins LLP

Syndicate led by Morgan Stanley; includes SunTrust Robinson Humphrey, BMO Capital Markets, Macquarie Capital, CIBC Capital Markets, National Bank of Canada Financial Markets, ING

$1.1 billion

2

Province of British Columbia

www2.gov.bc.ca

Government

September 26 and November 14, 2017

Sixth and seventh reopening of 2.8% 31-year bonds, series BCCD-35, due June 18, 2048

Osler, Hoskin & Harcourt LLP (underwriters)

CIBC Capital Markets, TD Securities, BMO, RBC, Scotiabank, National Bank, Desjardins, Casgrain, Merrill Lynch, HSBC, Laurentian, Canaccord

$1 billion

3

Province of British Columbia

www2.gov.bc.ca

Government

March 21 and October 17, 2017

Initial issue and first reopening of 2.55% 10-year bonds, series BCCD-37, due June 18, 2017

Farris, Vaughan, Wills & Murphy LLP (issuer), Osler, Hoskin & Harcourt LLP (underwriters)

Scotia Capital, RBC Dominion Securities, TD Securities (lead dealers); CIBC Capital Markets, BMO Capital Markets, National Bank, Desjardins, Casgrain, Merrill Lynch, HSBC, Laurentian, Canaccord

$1 billion

4

Telus Corp
TSX:T; NYSE:TU
telus.com

Telecom

06-Mar-17

Offering of US$500 million of senior unsecured 3.7% 10-year notes, maturing on September 15, 2027, and C$325 million of senior unsecured 4.7% 31-year notes, maturing March 6, 2048

Osler, Hoskin & Harcourt LLP (underwriters); Norton Rose Fulbright Canada LLP; Paul, Weiss, Rifkind, Wharton & Garrison LLP

U.S. notes: Merrill Lynch, Pierce, Fenner & Smith, RBC Capital Markets, BMO Capital Markets, CIBC World Markets; Canadian notes: CIBC Capital Markets, BMO Captial Markets, RBC Capital Markets

$995.2 million

5

China Gold International
TSX:CGG
chinagoldintl.com

Gold

06-Jul-17

Subscription for bonds of US$500 million through China Gold's subsidiary, Skyland Mining (BVI) Ltd

Osler, Hoskin & Harcourt LLP (counsel to issuer)

China International Capital Corp Hong Kong Securities Ltd, Citigroup Global Markets Ltd, CCB International Capital Ltd, Industrial Bank Co Ltd Hong Kong branch, Standard Chartered Bank

$647.3 million

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