Canada Infrastructure Bank (CIB) Commits $100 Million to Help Building Owners Lower Their Environmental Footprints Through Bank of Montreal (BMO)

McMillan LLP acted as counsel to the Canada Infrastructure Bank (“CIB”) on a master participation agreement with Bank of Montreal (BMO) pursuant to which the CIB committed to provide up to $100 million in financing for eligible energy efficiency retrofit projects to be undertaken by BMO’s existing commercial clients who want to improve the environmental footprints of their small and medium-sized buildings. Through this partnership, participating building owners, who would not typically qualify for loans from the CIB, can now access financing to accelerate green building upgrades.

McMillan advised the CIB on all aspects of the participation and financing including drafting, negotiation and finalization of the master participation agreement and related documents. Ahsan Mirza led the McMillan team with support from James Sutcliffe and Srinidhi Akkur (articling student).

McMillan’s Project Finance & P3 industry group is made up of lawyers with deep experience in the structuring and execution of major infrastructure projects. We are known for having a collaborative, problem solving approach to closing projects and meeting the requirements and financial objectives of both procurement authorities and private partners. We provide a complete range of services related to infrastructure, including assistance with procurement, construction, financing, environmental review, community consultation, tax and regulatory issues. We have acted on transactions involving all types of public infrastructure arrangements including privatizations, outsourcing arrangements, public-private partnerships, concessions, leases and alternative financing structures. Having acted for parties on all side: lenders, consortia, primary subcontractors and public authorities, we are uniquely positioned to advise and represent all relevant stakeholders.