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FACILITYCalgary June28/22

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ARCHIVED ISSUES

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Bob Myroniuk, Exec. Director @ Real Estate Council of Alberta (RECA), retiring

+ Brig.-Gen. Stephen Lacroix, Commander 3rd Canadian Division, Canadian Army to Honorary Parade Marshall @ 2019 Calgary Stampede Parade

+ Bruce Williams, Captain/Medivac Pilot @ Great River Air Limited

+ Carmela Gentile to Station Manager/News Director, Calgary & Lethbridge @ Global News

+ Cathy Tull to Managing Director @ Cult Collective LP

+ David Watson to CFO @ Medical Facilities Corporation

+ Domenic Barton to Director @ Mastercard Foundation

+ Dr. Diane Gereluk to Dean, Werklund School of Education @ University of Calgary

+ Dylan Taylor, CEO, Real Estate Services @ Colliers International Group Inc., terminated

+ Jean-Marc Mangin to Pres. & CEO @ Philanthropic Foundations Canada

+ Jim Orlando, Managing Partner @ OMERS Ventures, resigned

+ Jim Orlando to Manager @ Wittington Investments Venture Capital Fund

+ John Popoff to Director, Community Growth and Infrastructure @ City of Chestermere

+ Lorraine Ben to VP and Chief Executive @ Lockheed Martin Canada

+ Louise Arbour to Director @ Mastercard Foundation

+ Marc Guay to Trustee @ Boston Pizza Royalties Income Fund

+ Marc Tobert to Dev. Mgr. @ Pangman Development Corporation

+ Marian Hooman to Sr. VP @ Sionna Investment Managers

+ Nigel White to Exec. VP, Project Oversight @ SNC-Lavalin

+ Pamela Tood to Dir. Bus. Dev. & Marketing @ TELUS Spark

+ Paulina Hiebert to Director @ Boston Pizza GP Inc.

+ Paulina Hiebert to Trustee @ Boston Pizza Royalties Income Fund

+ Pierre Frappier to Pres. & COO @ AMJ Campbell Inc.

+ Ravi Saligram, CEO @ Ritchie Bros. Auctioneers, stepping down

+ Ryan Robb to CEO @ Stoney Tribal Administration

+ Ryan Seeds to Director @ Frontenac Mortgage Investment Corporation

+ Sandra Sutter to Manager, Indigenous Partnerships @ PTW Energy Services

+ Sharm Powell to Trustee @ SmartCentres REIT

+ Stephanie Jenkins to Talent Acquisition Specialist @ United Farmers of Alberta Co-operative Limited

+ Stephen Jenkins to Sr. VP & Portfolio Mgr. @ Sionna Investment Management

+ Syed Akhtar to Process Operations Manager @ Worley

+ Tom Woods, Chairman @ Hydro One Limited, stepping down

+ Ziad Hindo to Director @ Cadillac Fairview

~

 [send us your appointment notices  kolke@facilitycalgary.com ]




 MEMORIAM  

+ Dennis Kadatz, former athletic director, pioneer in university sports in Calgary and Pres. of CODA for the 1988 Olympics; 80

+ Kelly Jay ‘Captain Canada’ Fordham, founding member of Crowbar, co-author of Oh What A Feeling; 77




 HUMAN RESOURCES + WORKPLACE TRENDS 

+ Alberta government wants to speed up accreditation

+ recessions favour the prepared

+ what recruiters are looking for when you are being screened …

+ does your workplace make employees happy?




 QUOTES 

+ Love is that condition in which the happiness of another person is essential to your own. – Robert Heinlein

+ There is only one boss. The customer. And he can fire everybody in the company from the Chairman on down, simply by spending his money somewhere else. – Sam Walton




  KUDOS  

+ to Mark Giordano, Calgary Flames Captain, for winning the James Norris Memorial Trophy at the NHL Awards




  GLOSSARY + ABBREVIATIONS + ACRONYMS 

+ ABS – Asset Backed Securities

+ AEMERA – Alberta Environmental Monitoring Evaluation and Reporting Agency

+ AER - Alberta Energy Regulator

+ AIMCo – Alberta Investment Management Corporation

+ ASC – Alberta Securities Commission

+ AUC – Alberta Utilities Commission

+ BBL – barrel

+ BBLS/D – barrels per day

+ BIM – Building Information Modeling

+ BOE – barrel of oil equivalent

+ Brent – North Sea crude benchmark price

+ CapEx – capital expenditures

+ CAPP - Canadian Association of Petroleum Producers

+ cap rate – capitalization rate

+ CBD – Central Business District

+ CCAA – Companies’ Creditors Arrangement Act

+ CCS – Carbon Capture and Storage

+ CEAA – Canadian Environmental Assessment Agency

+ Chapter 11 – court ordered creditor protection under U.S. bankruptcy law

+ COSIA - Canada's Oil Sands Innovation Alliance

+ CPPIB – Canada Pension Plan Investment Board

+ CREB - Calgary Real Estate Board

+ DAB – Development Appeal Board

+ DILBIT – diluted bitumen

+ DIP – debtor in possession

+ EBITDA – earnings before interest, taxes, depreciation and amortization

+ EIA – U.S. Energy Information Administration

+ EPC – engineering, procurement and construction

+ E & P – exploration and production

+ FEED – front-end engineering and design

+ FERC – U.S. Federal Energy Regulation Commission

+ Forbearance Agreement – a short term formalized relief arrangement when loan terms are in default

+ FSR – floor space ratio

+ FTC – U.S. Federal Trade Commission

+ GJ – gigajoule

+ GLA – gross leasable area

+ GOA - Government of Alberta

+ GOM – Gulf of Mexico

+ GTA – greater Toronto area

+ GW - gigawatt

+ G&A – general and administrative

+ HOOP – Healthcare of Ontario Pension Plan

+ IEA – International Energy Agency

+ IFMA – International Facility Management Association

+ IMCO – Investment Management Corporation of Ontario

+ IPO – Initial Public Offering

+ ISO – International Organization for Standardization

+ JV – Joint Venture

+ KV – kilovolt (one thousand volts)

+ KW – kilowatt (one thousand watts)

+ LEED – Leadership in Energy and Environmental Design

+ LNG – Liquefied Natural Gas

+ LPG – Liquefied Propane Gas

+ MCF – thousand cubic feet

+ MCF/D – thousand cubic feet per day

+ mezz – mezzanine debt

+ MOA – Memorandum of Agreement

+ MOU – Memorandum of Understanding

+ MT – metric ton

+ MW – megawatt (1 million watts)

+ NAFTA – North American Free Trade Agreement

+ NEB – National Energy Board

+ NGLs – natural gas liquids

+ OPEC – Organization of Petroleum Exporting Countries

+ P3 – Public Private Partnership

+ PADD – U.S. Petroleum Administration for Defense Districts

+ PPA – Power Purchase Agreement

+ PSAC – Petroleum Services Association of Canada

+ PSP – Public Sector Pension Investment Board

+ RECA – Real Estate Council of Alberta

+ REIT – Real Estate Investment Trust

+ RFI – request for information

+ RFP – request for proposals

+ RFQ – request for qualifications

+ ROFR – right of first refusal

+ RICS – Royal Institution of Chartered Surveyors

+ RNG – renewal natural gas

+ SAGD – steam assisted gravity drainage

+ SAIT – Southern Alberta Institute of Technology

+ S & P – Standard & Poors

+ sub – subsidiary

+ sub. – subordinated

+ tic toc – we’ll see …

+ TOD – transit oriented development

+ UDI – Urban Development Institute

+ WTI – West Texas Intermediate crude benchmark price

+ WTO – World Trade Organization

+ YYC – YYC Calgary International Airport


 weekly newsletter


current week data

this  site is refreshed with a new issue every Tuesday


updated June 25, 2019


Editor/Publisher: Mark Kolke



 TODAY'S HEADLINES


HEADLINES: CU selling Alberta PowerLine | Chevron JV offering on Nova Chemicals | TMX approved | World Oil Congress 2023 awarded to Calgary + deals + rig counts + upcoming events, appointments, Golf Tournaments + REIT NEWS + financings




CONVERSATIONS

FACILITYCalgary Publisher Mark Kolke interviews interesting people. He seeks a glimpse of what drives them, how they see the world and what they see in Calgary's future:

Last week's conversation with John Kenny, Founder and Exec. VP @! Yr Plans Inc. and co-founder of Solium Capital

A recent conversation with Shannon Bowen-Smed, CEO @ Bowen Group

Click here to access the archive: archived conversations with fascinating Calgarians ...



 sponsors of this week's issue:

e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



 
DATA CENTRE

e-mail: Carol.Keen@DataHive.ca



e-mail Lance Laliberte - Sales at PREMIERE OFFICE MOVERS
 
OFFICE MOVERS



e-mail Grant Robinson, Managing Director, Calgary
 
RISK & INSURANCE SOLUTIONS



CONTACT US
SALES COACHING



e-mail to Katherine Robinson, Managing Director

e-mail to Kim Green, Sr. Associate, Interior Design
ARCHITECTURE + INTERIOR DESIGN



PUT YOUR 
COMPANY HERE
 Advertising/sponsorship queries:  kolke@facilitycalgary.com 
SEE YOUR 
BRAND HERE



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



CLICK HERE TO GET MARK'S HOME SEARCH APP FOR YOUR MOBILE PHONE - search any MLS listing you see, get information and/or book a showing without making a call - check it out! It's new and aVERY cool tool.

CONTACT MARK KOLKE 
RESIDENTIAL SALES



click to contact: Trevor Winkler, Regional Managing Partner, Calgary
 
ACCCOUNTING, CONSULTING, TAX



e-mail Lance Laliberte - Sales at PREMIERE OFFICE FURNITURE
 
NEW AND USED OFFICE FURNITURE



e-mail Elaine Evans
 
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Partner with us for your CSR or employee giving program, and join us in the global fight against avoidable blindness - e-mail Lynne Nieman, Partnerships Officer
 
SUPPORTING VISION PROJECTS WORLDWIDE



RETAINED EXECUTIVE SEARCH - For more information, click here.



 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ Canadian Embassy in China earned BOMA BEST Silver certification




 SAVE THE DATE - CHARITY GOLF TOURNAMENTS 

+ July 11; 17th Annual Coast Hotels Shuhachi Naito Golf Classic, Tsawwassen Springs Golf Club, Delta, BC; info/register

+ July 16; Willow Park Charity Golf Classic, Willow Park G&CC, Calgary; info/details

+ Aug. 1; SAIT Centennial Golf Classic, Priddis Greens, Priddis; info/details

+ Aug 12; Shrine Golf Tournament, Pinebrook Golf and Country Club, Calgary; details/sponsor/register

+ Aug. 13-15; Priddis Greens Charity Classic, Priddis Greens G& CC, Priddis; info/details

+ Aug. 15; CHAS (Children;s Hospital Aid Society) 37th Golf Classic, Silver Springs Golf Club, Calgary; info/registration

+ Sept. 4; Little Warriors 4th Annual Golf Tournament, The Quarry, Edmonton; info/register

+ Sept. 5; 2019 Enmax BOMA Golf Tournament, Kananaskis Country GC, Kananaskis; info/register

~

[please send your charity golf event notices to:  kolke@facilitycalgary.com ]




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NEWS SUMMARY 
 June 18 ~ 25 


+ ARC Resources Ltd. announced its revised 2019CapEx Budget is $700.0 million

+ Canadian Utilities Ltd. (80%) & Quanta Services Inc.(20%) agreed to sell Alberta PowerLine (500kV/508 km. line from Wabumun to to Fort McMurray to Greystone Managed Investments for $1.7 billion

+ Chevron Phillips Chemical Company JV is bidding to acquire Nova Chemicals for US$15.0 billion; no word yet on other bidders … tic toc

+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; over the week crude prices slumped due to oversupply but rose again on news of mid-east tanker attacks and U.S. drone being shot down – WTI up 10% on the week

+ East West Petroleum Corp. agreed to sell all its New Zealand assets for US$1.9 million

+ FACILITYCalgary got a new LOGO – gotta love that C-shaped hat string

+ First Air and Canadian North airlines got regulatory approval for their merger

+ Helijet International Inc. shareholders approved a going-private transaction

+ Mikisew Group of Companies formed a JV with Sodexo Canada; Mikisew Sodexo LP will continue services already in place to manage food and custodial services at oilsands camp facilities in the Fort McMurray area

+ Onex Corporation got Ministry of Transport approval for its takeover of WestJet Airlines Ltd.; shareholder and other regulatory approvals yet to come

+ Repsol SA announced it is cutting 30% of its 8,700 Canadian workforce as part of a global restructuring; impacts Calgary, Chauvin and Edson employees

+ rig activity in Canada

+ rig counts – U.S.: down 2 to 967 this week; Canada: up 12 to 119 this week; full breakdown

+ TMX (TransMountain $7.4 billion pipeline expansion) project got re-approved by the Trudeau government; NEB will run the regulatory process. The approval has 156 conditions. Lots of noise and politics in both pro-con groups. Government officials expect shovels in the ground soon, while many are skeptical. NEB has issued a certificate but there are many permitting elements ahead. Jason Kenny has vowed to challenge Bill C-69 and Bill C-48 on constitutional grounds … tic toc

+ Tundra Energy Marketing Limited changed its name to Kingston Midstream

+ World Petroleum Congress 2023 – Calgary’s bid was successful; in 2020 is in Houston; in 2023 Calgary will host




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Amur Financial Group Inc. secured $70.0 million equity financing by private placement

+ Eguana Technologies Inc. closed $3.0 million tranche of its private placement equity raise

+ eStruxture Data Centres secured $170.0 million credit facility

 +GFL Environmental Inc. is on the market to raise $1.98 billion in equity by IPO

+ InterRent REIT is on the market to raise $175.0 million in equity

+ Mullen Group Ltd. closed $15.0 million overallotment of its recent equity financing

+ Mullen Group Ltd. closed $110.0 million equity financing

+ Mullen Group Ltd. secured $150.0 million bank credit facility

+ Ridgewood Canadian Investment Grade Bond Fund closed $5.6 million equity raise

+ Sangoma Technologies Corporation is on the market to raise $20.01 million in equity

+ The Toronto-Dominion Bank is on the market to raise $1.75 billion in sub. debt

+ WELL Health Technologies Corp. closed $1.0 million second trancey of its private placement convertible debt 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  


+ Algonquin Power & Utilities Corp. got regulatory approval to construct 600MW of wind generation in Missouri and Kansas; expected capital cost is US$1.1 billion

+ Canadian Utilities Ltd. (80%) & Quanta Services Inc.(20%) agreed to sell Alberta PowerLine (500kV/508 km. line from Wabumun to to Fort McMurray to Greystone Managed Investments for $1.7 billion

+ City of Calgary are closing the Richmond Green golf course after the 2019 season; no decision yet on its future but expect a redevelopment-player-frenzy … tic toc

+ Library and Archives Canada’s new $330.0 million preservation centre, their second, is planned for Gatineau, QB; Plenary Properties Gatineau revealed the design – planned to be a net-zero-carbon building

+ seems the rumours were true; Canada Infrastructure Bank are working at the direction of the Trudeau government to hatch a deal for a multibillion-dollar high-frequency passenger rail line connecting Quebec City to Toronto - $6+billion project being announced this way is shameless electioneering by the Liberals




 CONSTRUCTION NEWS + INNOVATION 

+ 11 very cool rooftop spaces

+ Sidewalk Labs project in Toronto submitted their Master Innovation and Development Plan for its $11.3 billion smart city project on the waterfront – no public glimpse yet of 1,524 page document … tic toc

+ Ottawa firms up new rules on payment on federal construction work

+ top 10 project starts in Canada in May; note, none in Alberta




 SAVE THE DATE / upcoming events

+  June 18; S&P Global Platts Calgary Oil & Energy Forum, Calgary Marriott Downtown, info/register

+ July 1-8; Climate Innovation Forum 2019; London, UK; info/register

+ July 5 – 14; Calgary Stampede, Stampede Park; info/tickets

+ July 12; Oxford STOMP, Shaw Millennium Park; info/tickets available April 18th…

+ Sept. 2-4; World Heavy Oil Congress & Exhibition, Oman Convention Centre, Muscat, Oman; info/register

+ Sept. 9-11; BOMEX 2019, St. John’s, Nfld.; info/sponsor/register

+ Sept. 17-19; Gastech Exhibition & Conference, Houston, Texas; info/registration

+ Sept. 19; Uncorking Potential fundraiser (formerly known as the Peter Gzowski Invitational) for canLEARN Society, Fort Calgary, Calgary; info/tickets

+ Oct. 1; Workforce Choice Awards, Jack Singer Concert Hall, Calgary; info/tickets

+ Nov. 11; ADIPEC – Abu Dhabi International Exhibition and Conference; info/book space in Canada pavilion

+ Nov. 20-24; 2019 Grey Cup Festival; tickets/information


[send your event notices to:  kolke@facilitycalgary.com ]



 this week in REITS 


+ BSR REIT sold two non-core assets in Little Rock, AR for $22.1 million

+ CAP REIT acquired 98 suite property in Burnaby for $38.0 million

+ InterRent REIT agreed to pay $204.0 million to acquired five Montreal apartment buildings (2,735 units)

+ InterRent REIT is on the market to raise $175.0 million in equity

+ Sharm Powell to Trustee @ SmartCentres REIT




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ Allianz Group invested €342 million (CAN$513.0 million) for a 49% interest in New York’s #30 Hudson Yards 90 storey office building; then entered into a sale-leaseback with partners …

+ Holloway Lodging Corp. sold its Super8 and Travelodge hotels in Timmins, ON for $11.4 million

+ Oxford Properties Group broke ground ceremonially on ‘The Stack’ building, 1133 Melville St. in Vancouver; will be newest tallest tower in Vancouver; 36-storey, 540,000 sq. ft. AAA project. Pre-construction has been underway already (Ledcor are building); to be operational in 2022

+ Vancouver’s Omni group acquired Wilshire Courtyard property (two six-storey LEED Gold buildings/1.0 million sq. ft. for US$630.0 million from Tishman-Speyer




 SHAREHOLDER MEETINGS

+ June 25; ENMAX Corporation, Annual Meeting of the Shareholder, Calgary

+ June 25; Pembina Pipeline Corporation, Special Meeting of Preferred Shareholders, Calgary

+ July 5; Flow Capital Corp., Annual Special Meeting, Toronto

+ July 11; Emera Inc., Special Meeting of Shareholders, Halifax

+ July 23; WestJet Airlines Ltd., Special Meeting of Shareholders, Calgary

~

[ please send your event notices and AGM notices to:  kolke@facilitycalgary.com ]




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