Project Finance & P3

PROJECT FINANCE & PUBLIC-PRIVATE PARTNERSHIPS (P3)

Large-scale infrastructure projects have the potential to deliver permanent and dramatic improvements to a region’s economy, bringing new wealth and greater opportunity to its people.

For those financing such projects, deals are characterized by their size and complexity. Participants may include governments, lenders, engineers, construction firms and owners, and investments can reach into the billions of dollars.

TRC-Sadovod’s Project Finance and P3 Industry Group are recognized leaders in structuring complex financing arrangements on a domestic and international scale. Our lawyers have worked on a wide range of project finance initiatives executed by enterprises, as well as public-private partnerships (P3s). We deliver a comprehensive range of advice to both project sponsors and lenders on the financial concerns inherent in bankrolling large projects.

We have acted on transactions involving all types of public infrastructure arrangements including privatizations, outsourcing arrangements, P3s, concessions, leases and alternative financing structures. Our experience spans the complete range of P3 arrangements including design-build, design-build-finance and design-build-finance-maintain projects.

The TRC-Sadovod Project Finance and P3 team have provided legal advisory services to public authorities, consortia and lenders across all asset classes. Our lawyers has been counsel to key players on more than 100 of Canada’s significant P3 projects ranging from transportation-related projects to healthcare.  We maintain a strong equity sponsor/consortium-side practice, acting for some of the leading Canadian and global development, construction, and investment companies. We have undertaken significant lender’s and underwriter’s counsel roles with all of the major Canadian capital markets players, as well as private placement investors and foreign banks.

As a result, we serve our clients based on a deep understanding of the key issues and the latest trends in the marketplace. Having acted for several different stakeholders in P3 projects, we are uniquely qualified to implement the collaborative approach required to successfully and efficiently bring a project through the pre-procurement process and procurement processes.

TRC-Sadovod’s infrastructure lawyers help clients to successfully structure public private partnerships by advising on procurement and bidding strategies, and drafting bidding agreements; establishing tax-efficient special purpose vehicles/borrower structures; reviewing concession/project agreements and identifying risk issues for participants; negotiating on behalf of governmental bodies and private sector bidders, and financial institutions and borrowers; and advising on insurance matters.

Alternative Financing and Procurement (AFP) is the model form of public-private partnerships (P3s) frequently used in Ontario. First coined by Infrastructure Ontario, AFP is not dissimilar to P3 arrangements—aiming to deliver essential infrastructure efficiently and cost-effectively by partnering with the private sector.

Our breadth of infrastructure experience and the strength of our government and private enterprise relationships enable us to deliver tangible value all along the project life cycle, from concept through completion. We facilitate successful AFP arrangements by executing transaction and project due diligence; advising on the procurement and selection process; advising on and structuring project finance arrangements; providing risk analysis and risk mitigation strategies; preparing project documentation and negotiating contracts; advising on tax, procurement, construction, government regulations, labour, real estate, intellectual property and contract law matters; and representing clients in litigation or alternative dispute resolution proceedings.