Founded in 1941, Torys has expanded its international reach to five offices, four of which are in Canada. The firm has locations in Toronto, Calgary, Montréal, Halifax and New York. The firm is highly regarded among all practice areas but is perhaps best known for its work in M&A and project development.
The firm has standout finance, corporate and projects practice areas.
The banking team
represents both borrowers and lenders across many types of banking and financing matters including credit facilities, acquisition financing, debt refinancing and project financing.
The firm also works on financial regulatory matters related to the finance and corporate practice areas.
The capital markets team works for issuers and underwriters in debt, equity and securitization transactions.
The M&A team works across all industries
representing strategic buyers, sellers and private equity firms in acquisitions, joint ventures and mergers.
The projects team has experience in all industries, especially energy and infrastructure. It
advises all client types related to projects and does a lot of work with PPP’s.
The firm also works on restructuring and insolvency issues,
representing clients on all sides of proceedings.
Key clients for the firm include Ernst & Young, Fairfax Financial, Deutsche Bank, Scotia Capital, Government of the Northwest Territories, Wataynikaneyap Power Partnership, Onex, Enbridge, Bank of Nova Scotia, Great-West Lifeco, Sundial Growers, CIBC World Markets, TD Bank and Peloton Capital Management.
Research period review: 33rd edition (2022/2023)
Over the research period, the banking team acted for borrowers and lenders in acquisition, distressed, project, investment fund and corporate financing, as well as refinancings. In project financing, the team
largely advised clients in financing
both infrastructure and energy projects. The financial services regulatory team advised clients in the financial services sector in compliance and regulatory matters related to acquisitions and spinoffs. It also advised clients on matters involving insurance, digital
banking and Bill C-86
matters..
In capital markets, the team advised issuers and underwriters in the issuance of LRCNs, investment grade and green bond issuances on the debt capital markets side. The team also represented clients on all sides of equity capital markets matters including share offers, secondary offerings, IPOs and at-the-market offerings.
The M&A team advised buyers and sellers equally in high profile acquisitions across numerous industries. It also advised on other corporate matters including mergers,
spinoffs and joint ventures.
In project development, the team
largely represented public authorities and lenders in P3 projects in the infrastructure industry, with a large focus on social infrastructure,
transportation and energy.
On the restructuring and insolvency team, it acted for creditors,
debtors and receivers in CCAA proceedings and out of court restructurings. It also assisted in acquisitions related to distressed and insolvent assets.
In terms of lateral moves, the M&A team lost partner Cornell Wright, who moved in-house.
Deal highlights: 33rd edition (2022/2023)
Brookfield Asset Management company division
Ontario Power Generation C$1 billion SMR nuclear power project financing
Rogers Control Trust’s C$26 billion acquisition of Shaw Communications
Scotiabank's C$1.75 billion public offering
Telesat C$1.5 billion Low Earth Orbit Satellite constellation project financing
Client feedback: 33rd edition (2022/2023)
“Deep knowledge of the cross-border issues and ability to problem solve.”
“Excellent coaching (new experience for us). Clear identification of big issues. Gave attention to detail, so that we didn't have to.”
“High level of expertise and service.”
Financial services regulatory
“Exceptional knowledge and expertise in the sector, highly responsive and strong practical business sense.”
“They are a market leader in providing practical advice on investor-side negotiations with fund sponsors.”
“Torys works well as a team; they are highly skilled lawyers who bring a business mindset to their work. They work collaboratively and are highly effective.”
“Torys has a deep knowledge of our business and deep
expertise of the sector in which we
operate. They
provide full-service advice and are a part of our team on transactions. They build deep relationships with their clients, building trust and confidence that other firms generally do not do.”
“Very detailed. Informed about latest trends in the market.”
“They understand our business such that they don't just provide legal advice, they provide legal advice that suits our commercial objectives.”
“Torys are responsive and practical. They are bright and technical yet humble. They listen to our needs and respond accordingly. We view them as partners.”
“They
assisted us with managing the sale process: legal advice and document preparation for all closing documents, managed closing process, carried out all tax and regulatory analysis and process.”
“High-quality service. Knowledgeable.”
“Very responsive personnel and always able to find simple and constructive solutions to complex projects.”
Restructuring and insolvency
“High degree of
expertise, experience and knowledgeable. Always available, quick turnaround with solid advice.”
“Incredibly client-friendly and
provides easily digestible advice. Deep
expertise in the antitrust space and has a large network that he taps.”
“Tremendous depth of knowledge and experience. Great client service.”
“Very knowledgeable. He covers the whole spectrum.”
“Responsive, informed...great institutional knowledge.”
“Very experienced – he has seen and done it all. Responsive. Very bright and technical, yet humble. I trust him implicitly.”
“Attention to detail, commercial and business acumen. Work ethic and ability to deliver high-quality work on time.”
“Deep knowledge of sponsor transactions and cross-border implications. Ability to problem solve.”
“Practical and reasoned approach. In-depth knowledge of market terms.”
“Kyle is a top restructuring lawyer in Calgary. He provides quick turnaround with expert advice and has a broad network across Canada.”
“Expert. Easy to work with. Timeliness of service.”
“Expert technical advice and guidance with a common-sense and practical business approach. Readily available and responsive. Goes the extra mile for her clients.”
“Attitude. Effort.
Expertise.”
“Linda is extremely sharp. She is also client-friendly and
provides risk-adjusted advice in an easily adjustable way.”
“Strong legal technical skills. Excellent relationship manager. Manages her internal team well. Good practical advice.”
“Excellent problem solver/asks the right questions to get to the heart of the issue. Sound legal and negotiation advice. We enjoy working with Richard (stable and calm personality).”
