+ Sept. 17-19; Canadian Association of Professional Landmen (CAPL), 2019 Conference, Calgary; info/register
+ Sept. 19; Uncorking Potential fundraiser (formerly known as the Peter Gzowski Invitational) for canLEARN Society, Fort Calgary, Calgary; info/tickets
+ Sept. 23-26; 2019 IREM Global Summit, Hilton Union Square, San Francisco; info/register
+ Sept. 25-26; Artificial Lift & Production Optimization, Western Canada 2019, Blackfoot Inn, Calgary; info/register
+ Oct. 9; Energy Council’s 2019 Energy Person of the Year Award Dinner, Westin Hotel, Calgary; sponsor info/tickets
+ Oct. 17-18; 10th Annual Connect Event / United Way of Calgary and Area, Carriage House Inn, Calgary; info/register
+ Oct. 21; tentative date, Federal Election – everywhere; Elections Canada are recommending staying with this date even though it conflicts with Shemini Atzeret Jewish holiday … tic toc
+ Nov. 1; Stantec presents the 5th Annual Peter Burgener Memorial Charity Concert, Barney Bentall and The Cariboo Express in support of Classroom Champions, Bella Concert Hall at MRU, Calgary … save the date; register for RSVP Invitations
+ Bonterra Energy Corp. reported a 250 barrel spill into Washout Creek from a pipe rupture near Drayton Valley caused by flood-caused a creek bank collapse; containment actions in place, cleanup expected to take three weeks
+ Brookfield Business Partners L.P. agreed to acquired 57% of Genworth MI Canada Inc. for $2.4 billion from Genworth Canada
+ Calgary City Council taking new approach to release of documents: check out the site
+ Exxon Mobil reported to be considering an exit from the UK North Sea
+ Fiera Capital Corporation closed its acquisition of Foresters Asset Management Inc.
+ Government of Alberta appointing new heads of boards across the spectrum of industry, health and education and rescinded lots of Notley gov’t appointees; scroll the notices
+ Husky Energy Inc. announced it is resuming production at its shut-in operations in the White Rose field – restarting after last year’s spill; full production expected within a week
+ Intact Financial Corporation agreed to acquire\d The Guarantee Company of North America and Frank Cowan Company Limited for $1.0 billion
+ Koch Industries sold some of its prime oilsands properties to Paramount Resources Ltd. for an undisclosed sum and surrendered the rest of them to the province
+ rig counts (active/working) – U.S.: up 1 to 935 this week; Canada: up 2 to 142 this week; full breakdown
THIS WEEK IN FINANCINGS
- proposed & closed
+ Appnovation closed $15.0 million equity financing
+ Bespoke Capital Acquisition Corp. closed US$350.0 million equity financing by IPO
+ Export Development Canada is on the market to raise $500.0 million in debt (Green Bond issue)
+ Intact Financial Corporation is on the market to raise $401.0 million in equity
+ Petro-Victory Energy Corp. is on the market to raise $700,000.0 in equity
+ PRO REIT closed $57.6 million equity financing
+ Sun Life Financial Inc. closed $750.0 million unsecured sub debt/sustainability bond
+ WELL Health Technologies Corp. closed $15,007,500.0 equity financing
~
*editor’s note: names companies involved in debt financing transactions we report in this section are ALWAYS the borrower; we report ‘fresh raises’ and do not report secondary offerings …
INFRASTRUCTURE / P3
+ CPPIB acquired 10.01% of 407 International Inc. (Ontario’s Highway 407 system) for $3.0 billion from SNC-Lavalin Group Inc. to now hold 50.01%
+ Richard White’s extensive article on pros v. cons of GreenLine LRT … former transit planners he interviews have contrary views to the direction Calgary Council is going; a good read
+ Brookfield Property Partners agreed to acquired Aveo Group, an Australian retirement community manager for $1.1 billion
+ in Edmonton, Manulife Investment Management and Panattoni Development Company are doing a JV development; 148 acre parcel in Fulton Creek Business Park; build-to-suit , 1.5 million sq. ft. targeted
+ in Japan, Anbang insurance has put their $3.0 billion residential portfolio on the market for sale
+ in Ottawa, Crown Realty Partners acquired Carling Executive Park for $56.5 million from QuadReal
INTERESTING TRENDS IN RETAIL
+ the battle for HBC is heating up; Catalyst Capital Group Inc. has secured 10.05% of HBC for $187.0 million in bid to block takeover bid from CEO Richard Baker … tic toc
INTERESTING TRENDS IN INDUSTRIAL REAL ESTATE
+ Highline Mushrooms are building a $20.0 million expansion of its facilities at Crossfield
+ IWG is not offering franchise opportunities for its Regus and Spaces products; this is a switch from opening new corporate locations – not doubt a defensive posture in the face of competition from WeWork and its imitators …
this week in REITS
+ BTB REIT sold a retail property in Jonquiere, QC for $4.4 million
+ PRO REIT closed $57.6 million equity financing
SAVE THE DATE - CHARITY GOLF TOURNAMENTS
+ Aug. 21; NASCA (Northern Alberta Shopping Centre Assoc.) Charity Tournament in support of KidSport Edmonton, Belvedere Golf and Country Club, Sherwood Park; info/register
+ Aug. 22; BILD Calgary 2019 Industry Charity Tournament, Priddis Greens, Priddis; info/register
+ Aug. 29; Urban Measure Invitational for Cystic Fibrosis, Inglewood Golf & Curling Club, Calgary; info/register
+ Sept. 4; Little Warriors 4th Annual Golf Tournament, The Quarry, Edmonton; info/register
