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Humber River Regional Hospital Project reaches Financial Close

Reading Time 1 minute read

RBC Dominion Securities Inc.

On September 23, 2011, Infrastructure Ontario and Humber River Regional Hospital (Humber River) announced that Plenary Health Care Partnerships (Plenary Health) has signed a fixed-price contract to design, build, finance and maintain Humber River. The hospital, located in north Toronto, will increase its patient capacity from 549 beds up to 656 beds. It will enable Humber River to provide a more comprehensive range of acute care services and support for inpatient and outpatient hospital programs. The hospital will be designed and built to meet the Canada Green Building Council’s Leadership in Energy and Environmental Design (LEED) rating system, with a goal of achieving LEED Silver certification. Plenary Health, comprising Plenary Group (Canada) Ltd. and Innisfree Limited, are undertaking the project, with PCL Constructors Canada Inc. providing construction services and Johnson Controls LP provided facility maintenance services. The financing for the project is comprised of a short term bond financing and a long term bond financing totalling $1.1 billion, which was underwritten by RBC Dominion Securities Inc. The short term and long term bondholders were represented by Fasken Martineau DuMoulin LLP with a team that included Brian Kelsall, Ella Plotkin, John Sabetti, Sean Morley, Marc Lefler and Alex Nikolic.