Plenary Roads Winnipeg reaches financial close on C$467 million Winnipeg Southwest Rapid Transitway P3 Project

On June 24, 2016, Plenary Roads Winnipeg and PCL consortium reached financial close on the 30-year $C467 million Winnipeg Southwest Transitway project. Plenary Roads Winnipeg group consists of Plenary Group Canada, PCL Constructors Canada Inc., and Alberta Highway Services Limited (a division of ColasCanada Inc). The Plenary Group has been involved in many public sector projects across Canada, the United States and southeast Asia. The financing for the project included C$120 million underwritten by TD Securities (lead) and RBC. Bank debt was provided by Alberta Treasury Branches, Toronto Dominion Bank and Business Development Bank of Canada.It is expected that construction will begin this summer and will be completed by 2019, with Winnipeg Transit operations on the new transit way officially starting in April 2020. This project will reduce heavy traffic on the Pembina Highway, increase travel speeds, and improve service to the surrounding neighbourhoods. Fasken Martineau advised the lenders with a team that included Brian Kelsall, Ella Plotkin, Marc Lefler, Aine O’Connor, Sean Morley, and Jon Holmstrom.