Sunnybrook Reaches Financial Close with Vanbots Construction

On June 12, 2007, Sunnybrook Health Sciences Centre in Toronto reached financial close with Vanbots Construction Corporation, its lenders, The Manufacturers Life Insurance Company, London Life Insurance Company, Industrial Alliance Insurance and Financial Services Inc., RBC Dexia Investor Services Trust, Trustee, BCE Master Trust Fund and The Equitable Life Insurance Company of Canada, and the lenders' agent, Stonebridge Financial Corporation, for the construction and financing of the M-Wing Vertical Shell Expansion/Perinatal and Gynaecology Related Interior Fit-Up at Sunnybrook. The value of the contract is $141.9 million. The project was managed by Infrastructure Ontario under Infrastructure Ontario's new alternative financing and procurement model.

Sunnybrook Health Sciences Centre's and Infrastructure Ontario's legal team was led in-house by Steven Kresak, legal counsel with Infrastructure Ontario and by Blake, Cassels & Graydon LLP with a team that included Judy Wilson, Kate McGilvray, Marianne Smith (corporate); Allan Gelkopf (commodity tax); and Robert Willetts (financial services).

Vanbots Construction Corporation was represented by Goodmans LLP with a team that included Carla Salzman, Daniel Shapira and Glenn Ernst (commodity tax).

The lenders and Stonebridge Financial Corporation were represented by Nicholas C. Williams and Cerise M. Latibeaudiere of Ogilvy Renault LLP together with Andrew Bonar, in-house counsel with Equitable Life, and Bob Briercliffe, in-house counsel for London Life (Great-West Life).