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Client Work

Porter Aviation Holdings sells Billy Bishop airport terminal

Fasken
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Overview

Client

Confidential Client

Our team successfully advised the lenders in the acquisition financing of the sale of the airport terminal at Billy Bishop Toronto City Airport from Porter Aviation to Nieuport Aviation Infrastructure Partners GP, which took place on January 27, 2015. Porter Aviation, the parent company of Porter Airlines Inc. and City Centre Terminal Corp. (the terminal operators) sold the airport terminal to enable the company to fund the expansion of Porter Airlines Inc., its airline business. Nieuport Aviation is comprised of a group of Canadian and international equity investors which includes InstarAGF Asset Management Inc., Kilmer Van Nostrand Co. Limited and certain institution investors. The Bank of Nova Scotia, Caisse centrale Desjardins and National Bank of Canada acted as the lenders for the bank financing. The lenders were advised by Fasken Martineau DuMoulin LLP with a team led by Brian Kelsall, and included Sean Stevens, Marc Lefler and Louise Kennedy.

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