$194 million in financing for Westcoast Energy Inc.’s Island Cogeneration Project in British Columbia has been provided. The financing consisted of $150 million senior secured project bonds underwritten by RBC Dominion Securities and Nesbitt Burns Inc. and a $44 million bank financing arranged by the Royal Bank of Canada and the Bank of Montreal. Counsel for the Island Cogeneration Limited Partnership was Farris, Vaughan, Wills & Murphy which worked closely with Westcoast senior vice-president law, David Unruh. The Farris team was comprised of lead corporate lawyer Herbert Dodd with assistance from corporate partner Maria McKenzie and corporate associate David Selley. Counsel for RBC Dominion Securities and the Royal Bank of Canada was corporate partner Michael Allen of Russell & DuMoulin, with assistance from Felicity Schweitzer.
