Bridging North America General Partnership reaches financial close on the C$5.7B Gordie Howe International Bridge project

Date Closed

September 28, 2018

Lead Office

Vancouver

Value

5.70 Billion CAD

On September 28, 2018, Bridging North America, a consortium comprised of Aecon Group Inc., ACS Infrastructure Canada Inc. and Fluor Canada Ltd., announced that it has reached financial close on the C$5.7 billion Gordie Howe International Bridge project. The contract covers the design and construction of the project, financing costs, as well as a subsequent 30-year operation and maintenance period. RBC Dominion Securities Inc. and HSBC Securities (Canada) Inc. acted as underwriters, and Federation des caisses Desjardins, HSBC Bank Canada, Mizuho Bank, Ltd., Royal Bank of Canada and The Toronto-Dominion Bank acted as lenders, to Bridging North America General Partnership.

The Gordie Howe International Bridge project is a public-private partnership between Bridging North America General Partnership and Windsor-Detroit Bridge Authority, the Canadian Crown corporation responsible for the project. The Gordie Howe International Bridge is expected to be the largest cable-stayed bridge in North America once completed, and will include the largest Canadian port of entry along the Canada-US border. The Gordie Howe International Bridge is expected to be operational by the end of 2024.

The Gordie Howe International Bridge will offer transportation improvements, create jobs and opportunities for economic development, and accelerate the flow of goods and services between Canada and the US.

McCarthy Tétrault LLP advised the underwriters and lenders to Bridging North America General Partnership with a team led by Linda Brown that included Morgan Troke, Samantha Cunliffe, Liezl Behm, Ailbish Skinner, Deron Waldock, and Robin Mahood.

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