DLA Piper (Canada) LLP advises Tidewater Midstream and Infrastructure Ltd. on $125 million private placement of senior notes

DLA Piper (Canada) LLP represented Tidewater Midstream and Infrastructure Ltd (TSX: TWM) in the issuance of $125 million aggregate principal amount of 6.75% senior unsecured notes due 2022, by way of a private placement. The private placement successfully closed on December 19, 2017. Tidewater will use the net proceeds from the private placement for repayment of indebtedness under its existing credit facility, drawn to fund its various capital projects, and for general corporate purposes.

The DLA Piper Canada team representing Tidewater was led by Trevor Wong-Chor (Capital Markets) and included Kevin Fritz (Tax), John Munnis (Capital Markets), Graham Norris (Capital Markets), Matthew Pollock (Capital Markets) and Amanda Vogeli (Capital Markets).

CIBC Capital Markets acted as sole book-runner and lead agent for the private placement with a syndicate that included National Bank Financial Inc. as co-lead agent, AltaCorp Capital Inc., Macquarie Capital Markets Canada Ltd., RBC Dominion Securities Inc., Cormark Securities Inc., Raymond James Ltd. and Scotia Capital Inc.

Tidewater’s business strategy is to build a diversified midstream and infrastructure company in the North American natural gas and natural gas liquids space.

The firm’s Capital Markets Group has been very active in transactions in Canada over the past few years and continues to provide issuers, underwriters, and placement agents with global advice and unmatched local, on-the-ground resources to support public and private equity and debt capital raising transactions.