Photos Practice capital markets

Capital markets

We are well-known for our ability to effectively and efficiently carry out all types of corporate financing transactions no matter the size or complexity. 

Almost every business, regardless of the stage of development or size, uses capital markets to grow and take advantage of strategic opportunities. We always consider the bigger picture. Our team considers our client's business goals and stage of development to ensure that they are receiving appropriate, practical, and timely advice.

What we do

We can assist with all types of capital markets transactions, from start-up financings to cross-border or international offerings of equity or high-yield investment-grade debt, including:

  • Start-up financing
  • Private placements
  • Initial public offerings
  • Short-form prospectus offerings
  • Recapitalization transactions
  • Secondary offerings
  • Cross-border MJDS offerings
  • Rights offerings
  • Subscription receipt offerings
  • Convertible debt offerings
  • Medium-term notes offerings
  • High-yield debt offerings

Who we work with

Issuers, underwriters and selling securityholders come to us for advice on all types of finance transactions and offerings. We will give advice and can manage all aspects of the process for any corporate financing transaction from start to finish including negotiating engagement letters, underwriting/agency agreements and investment agreements, due diligence, stock exchange listing, drafting prospectuses or other disclosure documents, ensuring compliance with securities regulation and closing.

What our clients say

"Incredibly responsive, extremely hard-working, smart and always able to bring a great business sense to the table." – Chambers Canada 2018

 

Representative work

Blackline Safety Corp. in bought deal public offering

Acted for Blackline Safety Corp. in bought deal public offering of Common Shares for aggregate gross proceeds of approximately $12 million through a syndicate of underwriters led by PI Financial Corp. and concurrent non-brokered private placement of Common Shares for gross proceeds of $13 million, for total gross proceeds of approximately $25 million. Closed August 31, 2022.

Petrus Resources' acquisition and refinancing transactions

Counsel to Petrus Resources Ltd. for its $15 million acquisition of a privately owned limited partnership and its general partner with Cardium assets located at Ferrier, Alberta, $20 million rights offering, $30 million revolving loan facility, and $25 million second lien term facility.

Ag Growth International Inc.'s $104 million public offering

Counsel to Ag Growth International Inc. for its public offering of convertible unsecured subordinated debentures by short form prospectus for total gross proceeds of $104 million.

Canadian Virtual Gurus Inc. Series A $8.4 million financing

Advised Canadian Virtual Gurus Inc. on their Series A $8.4 million financing for their diversity-focused virtual assistant marketplace.

AltaGas Ltd.'s $700 million note offering

Counsel to AltaGas Ltd. in its $500 million offering of senior unsecured medium-term notes maturing on May 30, 2028, and $200 million offering of senior unsecured medium term notes maturing on November 30, 2030.

Ag Growth International Inc.'s $115 million public offering

Counsel to Ag Growth International Inc. in its $115 million public offering of 1,874,500 common shares.

Blackline Safety Corp.'s bought deal financing

Counsel to Blackline Safety Corp. in its bought deal financing of 5,480,000 common shares for gross proceeds of approximately $40 million.

Tidewater Renewables $150 million public offering

Counsel to a syndicate of underwriters led by CIBC in Tidewater Renewables Ltd.'s initial public offering of 10,000,000 common shares for gross proceeds of $150 million.

Alaris Equity Partners Income Trust $95 million financing

Counsel to Alaris Equity Partners Income Trust in a bought deal financing of 5,909,375 trust units for gross proceeds of $94,550,000.

Bengal Energy $16.5 million private placement

Counsel to Bengal Energy in its non-brokered private placement of 330,720,000 common shares for aggregate gross proceeds of approximately $16.5 million

Headwater Exploration Inc.'s recapitalization of Corridor Resources Inc.

Counsel to Headwater Exploration Inc. management team in the $50 million recapitalization and reconstitution of management of Corridor Resources Inc.

Bonavista Energy Corporation's strategic asset acquisition for $53.3 million

Counsel to Bonavista Energy Corporation in the acquisition of certain oil and natural gas assets located in West Central Alberta for $53.3 million.

Ag Growth International Inc.'s $86 million financing

Counsel to Ag Growth International Inc. in its public offering of $86 million senior subordinated unsecured debentures with an interest rate of 5.25% per annum maturing on December 31, 2024.

Predator Drilling Inc.'s $9 million private placement

Counsel to Predator Drilling Inc. in the private placement of an aggregate amount of $9,000,000 of Series 3 Second Preferred Shares to institutional and high net worth investors, along with implementation of a new US$12.0 million revolving credit facility and US$2.5 million term credit facility with a US based mid-market lender.

Alaris Royalty Corp. $100 million financing

Counsel to Alaris Royalty Corp. on its $100,000,000 financing of 5.5% senior unsecured subordinated debentures.

Wolverine Energy Infrastructure Inc.'s $23 million public offering

Counsel to Wolverine Energy Infrastructure Inc. in its public offering of 23,000,000 common shares of the company for gross proceeds of $23 million.

Crown Point Energy Inc.'s rights offerings and acquisition of Apco Austral S.A.

Counsel to Crown Point Energy Inc. regarding its US$16 million circular and short form prospectus rights offerings. Following the offering, BD&P acted as Canadian counsel to Crown Point in its US$39 million acquisition of Apco Austral S.A. from an affiliate of Pluspetrol S.A. using the proceeds from the rights offerings.

NuVista Energy Ltd.'s $419 million strategic equity financings

Counsel to Nuvista Energy Ltd. in a $214 million private placement of subscription receipts, and a concurrent $170 million prospectus offering of subscription receipts for proceeds of $384 million, as well as in the private placement of $35 million in common shares.

Canadian Natural Resources Limited's $1.8 billion note offering

Counsel to the dealers in a $1.8 billion public offering of medium term notes by Canadian Natural Resources Limited.

Leucrotta Exploration Inc.'s $80 million public offering

Counsel to the underwriters in Leucrotta Exploration Inc.'s $80 million public offering of 33,333,400 common shares.

PetroShale Inc.'s $110 million public offering

Counsel to PetroShale Inc. regarding a $110 million public offering of 122,265,000 common shares.

Inter Pipeline Ltd.'s $500 million note offering

Counsel to Inter Pipeline Ltd. in a public offering of $500 million senior unsecured medium-term notes.

Tourmaline Oil Corp.'s $750 million financing

Counsel to Tourmaline Oil Corp in the $750 million financing comprising a $115 million public offering of 3,309,700 subscription receipts and the concurrent private placement offering of 18,274,000 subscription receipts with certain institutional investors for gross proceeds of approximately $635 million

Inter Pipeline Ltd.'s $600 million public offering

Counsel to Inter Pipeline Ltd. in a $600 million public offering of 22,430,000 subscription receipts.

$1 billion financing for Canadian Natural Resources Limited

Counsel to the underwriters in Canadian Natural Resources Limited's $1 billion offering of 3.31% medium term notes.

Raging River Exploration Inc.'s $108 million public offering

Counsel to Raging River Exploration Inc. in a public offering of 12,500,000 common shares, inclusive of an over-allotment of 1,500,000 common shares, for approximate total proceeds of $108 million.

Perpetual Energy Inc.'s restructuring and settlement of convertible debentures

Counsel to Perpetual Energy Inc. regarding recapitalization transactions, including a $25 million backstopped rights offering, settlement of 7.00% convertible debentures and a contested Alberta Securities Commission hearing. (Re Perpetual Energy Inc., 2015 ABASC 2)

Bellatrix Exploration Ltd. US$250 million note offering

Counsel to Bellatrix Exploration Ltd. in a US$250 million public offering of senior unsecured notes.

Freehold Royalties Ltd.'s $373 million public offering

Counsel to Freehold Royalties Ltd.in its $373 million public offering of 20,700,000 common shares and the $33 million private placement of 1,833,334 common shares.

PrairieSky Royalty Ltd.'s $1.67 billion IPO

Counsel to the underwriters in the initial public offering of PrairieSky Royalty Ltd. of common shares for a total of $1.67 billion conducted by way of secondary offering by Encana Corporation.

Baytex Energy Corp.'s $1.5 billion financing

Counsel to Baytex Energy Corp. in its $1.5 billion public offering of 38,433,000 subscription receipts.

Athabasca Oil Corporation's $1.35 billion initial public offering

Counsel to Athabasca Oil Corporation in its $1.35 billion initial public offering of common shares.

Raising capital for 948 Brewing Company

Counsel to Alberta-based 948 Brewing Company regarding advice on raising capital.

Bonavista Energy Corporation's $345 million financing

Counsel to Bonavista Energy Corporation in the $345 million public offering of 20,930,000 common shares.

Crescent Point Energy Corp. $650 million public offering

Counsel to the underwriters in Crescent Point Energy Corp.'s public offering of 33,700,000 common shares for gross proceeds of $650 million.

Decisive Farming Corp.'s private placement of preferred shares

Counsel to Decisive Farming Corp. regarding the private placement of Class B, Series 1 preferred shares.

Decisive Farming Corp.'s private placement of notes

Counsel to Decisive Farming Corp. regarding the private placement of 10.00% unsecured convertible redeemable notes

Seven Generations Energy Ltd.'s $748 million public offering

Counsel to the underwriters in Seven Generations Energy Ltd.'s public offering of 30,705,000 subscriptions receipts for approximately $748 million.

Renegade Petroleum Ltd.'s $420 million strategic acquisitions

Counsel to Renegade Petroleum Ltd. in the financing of a $420 million asset acquisition. The transaction included a plan of arrangement between Renegade Petroleum Ltd. and Canadian Phoenix Resources Corp. (including cash of $75 million), a bought deal offering of 30,104,300 subscription receipts for gross proceeds of $70.1 million and a private placement of 48,619,915 subscription receipts for gross proceeds of $114.3 million.

Parex Resources Inc.'s $302 million public offering of subscription receipts

Counsel to Parex Resources Inc. in the $302 million public offering of 31,000,000 subscription receipts.

Formation and initial financing of Parex Resources Inc.

Counsel to Petro Andina Resources Inc. in the $500 million acquisition by Pluspetrol Resources Corporation N.V., and formation and initial financing of Parex Resources Inc.

Multiple Public Offerings and Private Placement Financings by PHX Energy Services Corp.

Counsel to PHX Energy Services Corp. in respect of multiple public offerings and private placements of Common Shares.

Crew Energy Inc.'s Senior Debt Offerings

Counsel to Crew Energy Inc. in multiple bond offerings including its most recent private offering of $300 million in senior unsecured notes.

Athabasca Oil Corporation $550 million financing

Counsel to Athabasca Oil Corporation in respect to a $550 million private offering of senior secured second lien notes

Canadian International Oil Corp. equity commitment and debt financing

Counsel to Canadian International Oil Corp. in respect to its $150 million equity line financing commitment by an affiliate of Riverstone Holdings LLC and US$160 million private placement of senior unsecured notes

Penn West Energy Trust private offering to China Investment Corporation

Counsel to Penn West Energy Trust in connection with its $435 million private offering of trust units to an affiliate of China Investment Corporation