A syndicate of international banks in the $2.8 billion Millennium Broadway Extension

On September 1, 2020, ACCIONA-Ghella consortium reached financial close to design and build the Millennium Line Broadway Extension. The $2.8 billion project was financed by a syndicate of international banks providing senior debt financing and hedging facilities for the Design Build and Financing of the Vancouver extension. The project is a 5.7km extension of the Millennium Line and is funded and delivered by the government of British Columbia, with contributions from the Government of Canada and the City of Vancouver. The Broadway Project is a key part of the rapid transit program in the Metro Vancouver Mayors’ Council’s 10-Year Vision. Construction is expected to start in 2020, with the line going into service in 2025.

Osler, Hoskin & Harcourt LLP advised the syndicate of international banks with a team consisting of Chris Bennett, Jasmyn Lee (Financial Services), Tobor Emakpor (Commercial) and Marissa Kirsh (Construction).