Okanagan Correctional Centre PPP reaches financial close

On March 21, 2014, Plenary Justice Okanagan reached financial close on the Okanagan Correctional Centre PPP in British Columbia with Partnerships BC and the Ministry of Justice. The project involves the Design, Build, Finance, Maintain (DBFM) of a 378-cell high security unit on a 36-acre site north of Oliver, British Columbia. The C$200 million project was financed via a C$114.5 million senior bonds issuance. Fasken Martineau advised the bondholders on all aspects of the financing, with a team that included Brian Kelsall, Ella Plotkin, Marc Lefler, Sean Morley and Nick Gefucia.