West Corridor Developers General Partnership completes C$639.8M financing for Highway 401 Expansion project

Date Closed

April 26, 2019

Lead Office

Vancouver

Value

639.80 Million CAD

On April 26, 2019, West Corridor Developers General Partnership, a consortium comprised of Aecon Group Inc., Amico Operations Holdings Limited and Parsons Corporation, announced that it has reached financial close on the C$639.8 million Highway 401 Expansion project. National Bank of Canada acted as agent and lender, and ATB Financial, Federation des caisses Desjardins du Québec and Toronto-Dominion Bank acted as lenders to West Corridor Developers General Partnership.

The Highway 401 Expansion project is a public-private partnership between West Corridor Developers General Partnership and the Ontario Infrastructure and Lands Corporation. The project involves reconstruction and widening of approximately 18 kilometres of highway across the western part of the Greater Toronto Area and includes bridge reconstruction and replacement, structural culvert replacements, drainage and utilities work and ecological restoration. Construction is expected to begin in the fourth quarter of 2019 and most of the work is expected to be completed by the fourth quarter of 2022.

McCarthy Tétrault LLP advised the agent and lenders with a team led by Linda Brown that included Samantha Cunliffe, Morgan Troke, Liezl Behm and Leah Whitworth.

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