Citi

Dan LeslieHire

Managing Director, Head of Citi Commercial Bank for Canada

— → Citi

Citi announced on May 15, 2026 that it had hired Leslie, a former HSBC Bank Canada and TD banker, to lead its Canadian commercial bank from June 2026.

The Boots Group

Financial advisor to The Boots Group · Retail & Pharmacy

Buyer Wittington Investments, Limited (with Fairfax Financial Holdings Ltd.) · Seller Sycamore Partners, in partnership with Stefano Pessina and family

Wittington Investments agreed to acquire the 1,800-store British pharmacy chain Boots from Sycamore Partners and the Pessina family for about US$8.9 billion including assumed debt, with Fairfax Financial partnering on the purchase and Wittington holding operational control. Expected to close in the first quarter of 2027.

Open Text Corporation US$1 billion senior secured notes and tender offer for 3.875% senior notes due 2028

Dealer manager for the tender offer · Technology

OpenText refinanced by selling US$1 billion of Rule 144A senior secured notes (6.700% due 2031 and 7.150% due 2033) to redeem its 2027 notes and fund a cash tender offer, later capped at US$300 million, for its 2028 notes. Only the tender offer dealer managers were named.

Sagicor Financial senior notes

Agent · Financial Services / Insurance

Seller Sagicor Financial Company Ltd.

C$350 million private placement of notes for debt repayment, co-led by National Bank Financial and RBC Dominion Securities.

Energía Occidente de México, S. de R.L. de C.V. (Guadalajara-Manzanillo natural gas pipeline)

Financial advisor to ESENTIA · Pipelines & Midstream

Buyer ESENTIA Energy Development, S.A.B. de C.V. · Seller TC Energía Mexicana and TCPL CentrOriente Ltd. (TC Energy subsidiaries)

ESENTIA agreed to buy the 313-km Guadalajara-Manzanillo natural gas pipeline system from TC Energy subsidiaries for a gross price of US$400 million, linking its existing network to the Port of Manzanillo.

Rogers Communications Inc. US$1 billion and C$600 million fixed-to-fixed rate subordinated notes due 2057

Co-manager (US notes and Canadian private placement) · Telecommunications

Rogers priced US$1 billion of hybrid subordinated notes in two series (7.150% and 7.400%, due 2057) in the US and a concurrent C$600 million 6.000% Canadian private placement, using proceeds to redeem or repurchase its 2081 and 2082 subordinated notes.

Tallgrass Energy crude oil transportation business (incl. 75% of Pony Express)

Exclusive financial advisor to Enbridge · Midstream / Pipelines

Buyer Enbridge Inc. · Seller Tallgrass Energy, LP

Enbridge agreed to acquire Tallgrass's crude oil business, including Pony Express and Powder River Gateway interests, for US$2.55 billion in cash.

Bank of Montreal AT1 Limited Recourse Capital Notes, Series 7

Joint Bookrunner · Financial Services / Banks

Seller Bank of Montreal

BMO priced US$1 billion of 7.375% NVCC AT1 Limited Recourse Capital Notes. Citigroup Global Markets Inc. was one of six joint book-running managers.

Bell Canada MTN Debentures

Co-Dealer Manager · Telecommunications

Buyer Bell Canada

Bell priced cash tender offers for several series of its MTN debentures. Citigroup Global Markets Canada Inc. was one of the co-dealer managers.

Frontera Energy Colombian E&P assets

Financial advisor to Frontera · Oil & Gas

Buyer Parex Resources Inc. · Seller Frontera Energy Corporation

Frontera agreed to sell its upstream Colombian exploration and production business to Parex for up to US$525 million of equity consideration plus assumed obligations, a firm value of about US$750 million.

Royal Bank of Canada AT1 Limited Recourse Capital Notes, Series 8

Joint Bookrunner · Financial Services / Banks

Seller Royal Bank of Canada

RBC offered US$1.0 billion of 6.50% NVCC AT1 Limited Recourse Capital Notes. Citigroup Global Markets Inc. was a joint book-running manager.

Fairfax Financial Holdings Limited

Dealer (syndicate member) · Insurance

Fairfax launched a C$700 million offering of senior notes.

Vermilion Energy's United States assets

Strategic advisor to Vermilion · Energy - Oil & Gas E&P

Seller Vermilion Energy Inc.

Vermilion agreed to sell its United States assets for $120 million in cash, directing proceeds to debt repayment.

Barrick's 50% interest in the Donlin Gold project

Financial advisor to NOVAGOLD · Mining - Gold

Buyer NOVAGOLD Resources Inc. and Paulson Advisers · Seller Barrick

NOVAGOLD and Paulson Advisers agreed to acquire Barrick's 50% of Donlin Gold for US$1 billion, with Paulson taking 40% and NOVAGOLD increasing to 60%.

SatixFy Communications Ltd.

Exclusive financial advisor to MDA Space · Aerospace & Space Technology

Buyer MDA Space Ltd.

MDA Space agreed to acquire Israeli satellite-communications chipmaker SatixFy for US$2.10 per share, a 75% premium, with a 45-day go-shop.

Mitsubishi Materials' 25% interest in Copper Mountain Mine (BC) Ltd.

Financial advisor to Hudbay · Mining - Copper

Buyer Hudbay Minerals Inc. · Seller Mitsubishi Materials Corporation

Hudbay agreed to acquire Mitsubishi Materials' 25% stake in the Copper Mountain mine for US$4.5 million upfront plus up to US$39.75 million in deferred and contingent payments.

Saeta Yield

Transaction advisor to Masdar · Power & Utilities (renewables)

Buyer Masdar · Seller Brookfield Renewable Partners and institutional partners

Brookfield Renewable and its institutional partners agreed to sell Iberian wind and solar platform Saeta Yield to Masdar for about US$1.4 billion (EUR1.2 billion).

Sagicor Financial Company Ltd.

Agent (syndicate member) · Insurance

Sagicor priced a C$250 million Canadian private placement of 6.359% senior unsecured notes due 2029.

Bitfarms Ltd.

Financial advisor to Riot · Digital Assets / Bitcoin Mining

Buyer Riot Platforms, Inc. (proposed)

Riot publicly disclosed an unsolicited proposal to acquire Bitfarms for US$2.30 per share; Bitfarms' special committee said the proposal significantly undervalued the company and ran a strategic alternatives process.

Enerplus Corporation

Lead financial advisor to Chord · Oil & Gas

Buyer Chord Energy Corporation

Chord and Enerplus agreed to combine through a plan of arrangement in a stock-and-cash transaction described as approximately US$11 billion (combined enterprise value), with Enerplus shareholders owning about 33% of the Williston-focused combined company.

TMX Group Limited

Agent (syndicate member) · Exchanges / Financial Services

TMX priced a $1.1 billion Canadian private placement of senior unsecured debentures in three series (2029, 2032 and a longer series).

IAMGOLD Corporation (US$400 million term loan)

Financial advisor to IAMGOLD on the term loan · Mining

IAMGOLD entered into a five-year US$400 million second lien secured term loan from three institutional lenders.

Atlas Corp.

Financial advisor to ONE · Shipping & Infrastructure

Buyer Poseidon Acquisition Corp. (Fairfax Financial, ONE, Washington family, David Sokol)

A consortium including Fairfax affiliates agreed to take Atlas Corp. private for US$15.50 per share in cash, at an enterprise value of about US$10.9 billion.

Micro Focus International plc

Lead arranger on acquisition financing · Technology

Buyer Open Text Corporation

OpenText agreed to acquire UK software company Micro Focus for 532 pence per share in cash, an enterprise value of about US$6.0 billion, backed by committed financing.

Watermark Lodging Trust, Inc.

Financial advisor and financing provider to Brookfield · Real Estate (Lodging)

Buyer Brookfield private real estate funds

Brookfield real estate funds agreed to acquire non-traded lodging REIT Watermark in an all-cash deal valued at US$3.8 billion including debt and preferred equity.

Pretium Resources Inc.

Financial advisor to the Pretivm special committee · Mining (Gold)

Buyer Newcrest Mining Limited

Newcrest agreed to acquire Pretivm for C$18.50 per share in cash and shares, a total equity value of about C$3.5 billion, adding the Brucejack mine in British Columbia.