On February 22, 2018, Infrastructure Ontario, reached financial close with EllisDon Infrastructure NTC General Partnership to design, build, finance and maintain the New Toronto Courthouse Project.
The New Toronto Courthouse will bring together many of Toronto’s Ontario Court of Justice criminal courts.
The New Toronto Courthouse project is being delivered using an Alternative Financing and Procurement model. The contract is valued at approximately $956.4 million, which reflects the payments made during construction, the substantial completion payment, and the monthly service payments before inflation adjustments. This figure doesn’t reflect total project cost.
EllisDon Infrastructure NTC General Partnership’s team members included EllisDon Capital Inc. as equity investor, EllisDon Design Build Inc. as construction contractor and NTC Service Provider General Partnership (a partnership between SNC-Lavalin and EllisDon Facilities Services Inc.) as service provider.
Financing for the project is comprised of short-term financing and associated hedging provided by The Bank of Nova Scotia and National Bank of Canada, with The Bank of Nova Scotia, acting as administrative agent, and long-term financing provided by Sun Life Investment Management.
Infrastructure Ontario was represented in-house by Agnes von dem Hagen, Vice President, Transaction Legal, and Janice Lao, Senior Legal Counsel, Transaction Legal.
McCarthy Tétrault LLP acted as transaction counsel to the Ministry of the Attorney General and to Infrastructure Ontario in the structuring, procurement, negotiation and settlement of the project documents, with a team that included Tristan Musgrave, Jamie Klein, James Kelsall, Nadia Conforti, Ian Mak (financing) and Chris Zawadzki (financing).
EllisDon was represented in-house by Andrés Durán, Vice President, Legal Services, P3 and International Projects and Jessica Ho-Wo-Cheong, Legal Counsel, P3 and International Projects.
EllisDon Infrastructure NTC General Partnership was represented by Blake, Cassels & Graydon LLP with a team that included Catherine Doyle, Vivian Kung, Lisha Li, Danielle Butler, Aaron Palmer, Christine Ferguson, Hilary Crangle, David Mender and Graham Fulton.
SNC-Lavalin was represented in-house by Simon Finlayson and Philippe Archambault and assisted by Norton Rose Fulbright Canada LLP with a team that included Mike Moher and Mary Kelly.
The lenders and hedge providers were represented by Farris, Vaughan, Wills & Murphy LLP with a team that included Michael Allen, Maria McKenzie and Aliza Premji.