Leland Corbett

Leland P. Corbett Partner

Representative Work
  • Alberta Indigenous Opportunities Corporation in its first loan guarantee to a consortium of six Alberta First Nations to enable their participation in the C$1.5B Cascade Power Project.
  • Waterous Energy Fund in the amalgamation of its two portfolio companies, Strath Resources Ltd. and Cona Resources Ltd., to create a leading private North American oil producer, Strathcona Resources Ltd.
  • Waterous Energy Fund in financing the C$740M acquisition of Pengrowth Energy Corporation by its wholly owned portfolio company, Cona Resources Ltd.
  • Alberta Investment Management Corporation in its acquisition, as part of a consortium with its investment partner KKR, of a 65% interest in TC Energy’s Coastal GasLink Pipeline, with anticipated construction costs in excess of C$6B.
  • Alberta Investment Management Corporation (AIMCo) in the strategic affiliation of its long-term timber investment, Island Timberlands Limited Partnership (co-owned with British Columbia Investment Management Corporation (BCI), with TimberWest Forest Corporation, a long-term timber investment of BCI and the Public Sector Pension Investment Board.
  • AltaGas Ltd. in the acquisition of a 50% ownership interest in certain existing and future natural gas processing plants in the Aitken Creek area from Black Swan Energy Ltd., and related joint venture processing, transportation and marketing agreements, that also includes new AltaGas liquids handling infrastructure, for a total capital investment by AltaGas of approximately C$230M.
  • Waterous Energy Fund in the formation of its initial US$1.05B fund.
  • INNOVA Global Ltd. in its US$43M acquisition of Braden from Global Power Equipment Group, including entities in the U.S. and the Netherlands.
  • Alberta Investment Management Corporation (AIMCo) in its US$500M investment, with Fairfax Financial Holdings Limited and other co-investors, in the entity that acquired Allied World Assurance Company Holdings, AG for US$4.9B.
  • Waterous Energy Fund, the majority owner of Strath Resources Ltd., in connection with Strath Resources’ C$340M acquisition of Paramount Resources Ltd.’s assets in the Resthaven/Jayar area of the Kakwa region.
  • The special committee of Trilogy Energy Corp. in its merger with Paramount Resources Ltd.
  • The placement agents for Athabasca Oil Corporation, as Canadian counsel, in the private placement of US$450M of 9.875% senior secured second lien notes due 2022.
  • Source Energy Services Canada LP and Source Energy Services Canada Holdings Ltd. in their high yield debt offering consisting of a private placement of C$130M aggregate principal amount of 10.5% senior secured first lien notes due 2021.
  • Source Energy Services Ltd. in its C$175M initial public offering.
  • AltaGas Ltd. in its C$8.4B cross-border acquisition of WGL Holdings, Inc., including related financing, consisting of a US$4.95B bridge facility, a C$2.1B bought deal public offering of subscription receipts and a concurrent C$400M private placement of subscription receipts to OMERS.
  • Canexus Corporation in its high yield debt offering consisting of a private placement of C$110M aggregate principal amount of 7.875% senior unsecured notes due 2023.
  • Seven Generations Energy Ltd. in a secured credit facility provided by a syndicate of financial institutions and having a credit capacity of C$1.1B.
  • Seven Generations Energy Ltd. in its acquisition of a minority interest in Steelhead LNG Limited Partnership, which is proposing two LNG export facilities on Vancouver Island, and related joint venture arrangements.
  • The syndicate of underwriters in Enerflex Ltd.’s bought-deal public offering of common shares for aggregate gross proceeds of approximately $115M.
  • ATB Financial in a two year deal with the Business Development Bank of Canada in creating a joint lending program to provide small- and medium-sized businesses in Alberta access to C$1B in new loans. The federal and provincial Crown corporations will each earmark C$500M in capital to lend to companies of approximately 100 employees or less that are looking to expand their operations.
  • Seven Generations Energy Ltd. in its C$2B acquisition of petroleum and natural gas assets from Paramount Resources Ltd. and concurrent bought-deal public offering of subscription receipts for aggregate gross proceeds of approximately C$750M.
  • Cheung Kong Infrastructure Holdings Limited and Power Assets Holdings Limited in their C$1.7B acquisition of a 65% indirect ownership interest in select heavy oil pipeline and storage assets from Husky Energy in Alberta and Saskatchewan, and related joint venture, financing and commercial arrangements.
  • Alberta Investment Management Corporation, a member of a consortium which includes OMERS, Ontario Teachers’ Pension Plan, Wren House Infrastructure Management Limited, and the infrastructure investing arm of the Kuwait Investment Authority, as Canadian counsel, in connection with the acquisition of London City Airport from Global Infrastructure Partners L.P. for £2B.
  • Alberta Investment Management Corporation (AIMCo), as Canadian counsel, in its sale of its 50% interest in Autopista Central de Chile, a Santiago-based toll road infrastructure asset, on behalf of certain of AIMCo’s clients, to Abertis Infraestructuras S.A. for €948M (approximately C$1.5B).
  • The Special Committee of the board of directors of TransAlta Renewables Inc. in its investment in tracking preferred shares of a subsidiary of TransAlta Corporation, which will provide an economic interest in and based on the cash flows from TransAlta Corporation’s Sarnia Cogeneration Plant, Le Nordais wind farm and Ragged Chute hydro facility for a combined value of approximately C$540M, satisfied by a combination of the cash proceeds of a public equity offering, and the issuance of C$175M in common shares and a C$215M convertible unsecured subordinated debenture.
  • Stream Asset Financial in the funding of a new $500M fund, focused on structuring long-tenured credit and equity investments in midstream, energy infrastructure and oil & gas assets.
  • A syndicate of lenders, led by The Bank of Nova Scotia, in connection with Pembina Pipeline Corporation’s C$2B syndicated credit facility, expandable to C$2.75B.
  • The Special Committee of the board of directors of TransAlta Renewables Inc. in the acquisition of an economic interest in C$1.7B of Australian power generation assets from TransAlta Corporation.
  • Seven Generations Energy Ltd. in its C$931.5M initial public offering.
  • AltaGas Ltd. in its C$1.4B syndicated credit facility, including a C$150M club credit agreement.
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