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WSP Global completes a $502 million bought deal public offering and a $400 million private placement of subscription receipts

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Underwriters

On September 3, 2014, WSP Global completed a $502 million bought deal public offering of subscription receipts, a $400 million private placement of subscription receipts and new credit facilities to finance the acquisition of Parsons Brinckerhoff, a leading global professional services firm with a deep expertise in infrastructure.

The acquisition and the related transaction costs are being financed through a combination of:

• a bought deal public offering of subscription receipts at a price of $35.85 per subscription receipt and up to additional gross proceeds of $75 million pursuant to an over-allotment option;
• a private placement of subscription receipts at a price of $35.85 per placement subscription receipt to two existing shareholders: Canada Pension Plan Investment Board and la Caisse de dépôt et placement du Québec and up to additional gross proceeds of $60 million pursuant to the additional subscription option;
• the implementation of the new credit facilities which consist of a US$800 million revolving facility, a US$400 million term facility and a $400 million equity bridge facility.

The underwriters were represented by Fasken Martineau with a team composed of Gabriel Castiglio, Jean-Pierre Chamberland, Jean Michel Lapierre, Caitlin Rose, Marie-Christine Valois (M&A and Securities) and Gilles Carli (Tax).

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