Shearman & Sterling represented UBS Securities LLC and BMO Nesbitt Burns Inc., as joint bookrunning managers, and RBC Capital Markets Corporation, CIBC World Markets Inc., National Bank Financial Inc., Scotia Capital Inc. and TD Securities Inc, as co-managers, in connection with Atlantic Power Corporation’s registered public offering of 6,029,000 common shares, for total gross proceeds of US$80.5 million. This offering represented Atlantic Power’s first public offering in the United States.
Shearman & Sterling also acted as U.S. counsel to BMO Nesbitt Burns Inc., as lead bookrunning manager, and RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., CIBC World Markets Inc., Desjardins Securities Inc., Macquarie Capital Markets Canada Ltd. and National Bank Financial Inc., as co-managers, in connection with Atlantic Power Corporation’s registered public offering of Cdn$80.5 million aggregate principal amount of 5.60% Series B Convertible Unsecured Subordinated Debentures due 2017.
Atlantic Power Corporation is an independent power producer with power projects located in major markets in the United States. Atlantic Power’s current portfolio consists of interests in 12 operational power generation projects across eight states, one wind project under construction in Idaho, a 500 kilovolt 84-mile electric transmission line located in California, and six development projects in five states.
The Shearman & Sterling team that advised the underwriters in the transaction included partners Larry Crouch (Menlo Park-Tax), Russell Sacks (New York-Financial Institutions Advisory & Financial Regulatory) and Howard Steinberg (New York-Project Development & Finance), and associates Jonathan Handyside (London-European Corporate), Sonja Sun (Toronto-Capital Markets), Daniel Weber (Toronto-Capital Markets), John Vigman (New York-Project Development & Finance), Anil Kalia (Menlo Park-Tax), Seth Kerschner (New York-Property/Environmental) and Jennifer Morton (New York-Financial Institutions Advisory & Financial Regulatory).