Lower Mattagami Energy Limited Partnership’s C$375 Million Private Placement

Torys LLP represented the syndicate of agents in connection with the private placement of Lower Mattagami Energy Limited Partnership.

On May 14, 2021, Lower Mattagami Energy Limited Partnership issued, by way of private placement, C$375 million aggregate principal amount of 2.433% senior secured bonds, Series 2021-1, due May 14, 2031. The bonds were issued in Canada and sold through a syndicate of agents co-led by CIBC World Markets Inc. and BMO Nesbitt Burns Inc., and which included National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., HSBC Securities (Canada) Inc. and Laurentian Bank Securities Inc.

The Partnership intends to use the net proceeds of the offering to finance or refinance, in part or in full, new and/or existing eligible projects defined in the OPG Green Bond Framework, and to refinance outstanding senior secured bonds of the Partnership at maturity.

The Partnership is a limited partnership between Ontario Power Generation Inc. (OPG), as the sole general partner, and LM Energy Inc., a wholly-owned subsidiary of OPG, as sole limited partner.

The Torys’ team included Michael Zackheim (Picture) and Stephen Neil (corporate/securities) and Rose Bailey (lending).

Involved fees earner: Rose Bailey – Torys LLP; Stephen Neil – Torys LLP; Michael Zackheim – Torys LLP;

Law Firms: Torys LLP;

Clients: BMO Nesbitt Burns Inc; CIBC World Markets; HSBC Securities (Canada); Laurentian Bank Securities Inc.; National Bank Financial Inc.; RBC Dominion Securities Inc.; Scotia Capital Inc.; TD Securities;

Author: Martina Bellini