May 17, 2019
Osler is proud to have been named Canada’s “Firm of the Year” at the 14th annual International Financial Law Review (IFLR) Americas Awards, held in New York on May 16, 2019. The honour recognizes the firm with the overall best track record in 2018 in giving local law advice on the most innovative cross-border deals across all award practice areas.
Osler was recognized for its work in the following mandates:
- Thomson Reuters and Blackstone’s $20-billion Financial & Risk transaction
Osler acted as Canadian counsel to Blackstone in which private equity funds managed by Blackstone — together with Canada Pension Plan Investment Board and GIC — entered into a partnership agreement with Thomson Reuters for Thomson Reuters’ Financial & Risk business. This was a complex multijurisdictional transaction with significant global reach that involved innovative and creative financing and deal structures and deal architecture.
- Constellation Brands’ $5.1-billion strategic investment in and partnership with Canopy Growth Corporation
Osler represented Constellation Brands in an agreement to significantly expand its strategic investment in a partnership with Canopy Growth Corporation. This was the biggest cross-sector, cross-border deal of the year and represented a watershed moment for the domestic and international cannabis sector at large.
- Concordia International Corp.’s US$3.7-billion recapitalization transaction
Osler achieved a consensual realignment of Concordia’s balance sheet debt, which was particularly challenging in the circumstances given the global nature of Concordia’s operations across more than 90 countries, its complex capital structure, and the competing interests of its various stakeholder groups. This deal was implemented through a creative and innovative structure under the Canada Business Corporations Act.
- Algoma’s Companies’ Creditors Arrangement Act proceedings
Osler took a central role in Algoma’s CCAA proceedings. We represented Deutsche Bank, as Agent, and an ad hoc group of Algoma’s term lenders in connection with their pre-petition debt, a US$200-million debtor-in-possession facility, which was amended and restated a number of times during the proceedings and as buyers of the assets through a credit bid structure. This matter involved every major firm in Canada and many U.S. investors, advisors and counsel and required significant negotiation with many stakeholder groups, including junior bondholders, unions and the government over pension and environmental matters.
The Blackstone and Constellation matters were led by the Corporate Group at Osler, which draws on its expertise in corporate law and governance, securities, commercial matters and corporate finance.
The Concordia and Algoma matters were led by Osler’s Insolvency and Restructuring Group, which is Canada’s leading multi-disciplinary practice offering top-tier legal expertise in all aspects required to resolve the most compelling business challenges.
IFLR, a global publication, has been a trusted source for providing deal analysis, expert opinions and best practices in financial markets law to in-house counsel and practitioners since 1982. Well known for rewarding legal innovation, IFLR hosts annual awards ceremonies in London, New York, Hong Kong and Dubai, which recognize the best work in both private practice and in-house departments.
For more information, visit IFLR’s website.