McCarthy Tétrault advises on award-winning project finance deal
Toronto, March 14, 2014 — McCarthy Tétrault is very pleased to announce that at a gala in New York last Thursday, the firm was honoured with Project Finance’s 2013 North American Single Asset Deal of the Year award, in recognition of its work on Goreway Power Station’s July 2013 C$832 million refinancing of its credit facilities. McCarthy Tétrault represented Goreway Station Partnership as the borrower with a finance team led by Lynn Parsons and an energy team led by Suzanne Murphy. The other team members consisted of Pat McCay, Paul Galbraith and Kerri Lui.
Goreway Power Station is a 875 MW natural gas-fired combined cycle power generation facility located in Brampton, Ontario — one of the largest such plants in Canada. The plant is primarily used during peak demand periods and is supplied by underground pipelines from a nearby Enbridge facility. The complex refinancing was the largest financing of a gas-fired power plant in Canada in 2013, and one of the largest financing transactions in North America. The deal was also a model of Canada-Japan collaboration, involving several Japanese, European and North American financial institutions, and Japanese equity sponsors.
McCarthy Tétrault’s Projects Group advises on significant energy, power, mining, oil & gas and infrastructure undertakings in North America, and on complex foreign legal issues relating to projects internationally. The firm serves the full range of participants — including proponents, lenders, domestic and international commercial banks, institutional lenders, export credit agencies, international financial institutions, regulatory bodies and governmental agencies — on all aspects, from procurement through to structuring, construction, finance, development and operation.
Project Finance’s Americas Deal of the Year awards recognize innovation, repeatability, best practices, problem solving, risk mitigation, value for money and speed of delivery in the financing of infrastructure projects. Published by Euromoney, the awards are now in their 15th year. Further information about the awards is found on Project Finance’s website.
About McCarthy Tétrault
McCarthy Tétrault provides a broad range of legal services, advising on large and complex assignments for Canadian and international interests. The firm has substantial presence in Canada’s major commercial centres and in London, UK.
Built on an integrated approach to the practice of law and delivery of innovative client services, the firm brings its legal talent, industry insight and practice experience to help clients achieve the results that are important to them.