McCarthy Tétrault advises Enbridge Inc. in connection with a $736 million investment in its Westcoast natural gas pipeline system by 38 First Nations.

McCarthy Tétrault advised Enbridge Inc. (Enbridge) in connection with a historic transaction in which Stonlasec8 Indigenous Alliance Limited Partnership (Stonlasec8), a partnership owned by 38 First Nations in British Columbia, acquired a 12.5% interest in Enbridge’s Westcoast natural gas pipeline system for subscription proceeds of $736 million. 

The investment was funded with $336 million in senior secured bonds of $400 million of guaranteed bonds guaranteed by the Canada Indigenous Loan Guarantee Corporation.

Enbridge, headquartered in Calgary, Alberta, is a Canadian multinational corporation specializing in the transportation of crude oil, natural gas, and natural gas 

Robin Mahood and Morgan Troke led the M&A and financing aspects of the transaction, with Brett Anderson and Kim Brown leading on tax structuring and Robin Sirett leading on regulatory matters. The team included Bryn Gray and Rachael Carlson (Aboriginal), Claire Sung, Sarah Xu, Grace Simpson, Katharine Lazar, Sandra Belton, Michele Zinsli Ma and Isabel Gonzales (Business), Jenna Clark, Matthew Yensen and Trena Graff (Financial Services), Randy Schwartz, Alexandra Carbone and Colton Dennis (Tax), Craig Shirreff, Donna Dulaba and Majic Greenwood (Real Property) and Jack Ruttle (Litigation).