Douglas B. Buchanan, QC

Global Head of Infrastructure and Resources
Norton Rose Fulbright US LLP | Norton Rose Fulbright Canada LLP

M:+1 646 771 5746

M:+1 646 771 5746

Douglas B. Buchanan, QC

Douglas B. Buchanan, QC

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Biography

Douglas Buchanan, QC, is the Global Head, Infrastructure and Resources at Norton Rose Fulbright. His practice focuses on project development, project finance and M&A with an emphasis on infrastructure, public-private partnerships (PPP), natural resources and power generation.

Prior to joining Norton Rose Fulbright, Mr. Buchanan was the co-head of the global infrastructure and project finance group at an international law firm based in New York City. Prior to that, he had built a leading infrastructure and P3 group at a national Canadian law firm. Mr. Buchanan has acted as lead counsel or a primary legal team member on over 60 P3 transactions in the US and Canada, a number of which have been recognized as international award-winning transactions.

Mr. Buchanan is admitted to practice law in both British Columbia and Ontario and is licensed to practice as a legal consultant in the state of New York.


Professional experience

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LL.B, University of British Columbia, 1984 
B. Comm., University of British Columbia, 1976

  • British Columbia
  • New York Foreign Legal Consultant
  • Ontario

Mr. Buchanan has acted as lead counsel or a primary legal team member on over 70 P3 transactions in the US, Canada and Latin America, a number of which have been recognized as international award-winning transactions. The following is a sampling of some of the P3 and other major transactions on which Mr. Buchanan acted as lead counsel or a primary legal team member:

Developer / Borrower Mandates

  • Zero Emission Bus Financing – advising Go Zero Emission School Bus British Columbia Inc., the purchasing agent for 60 British Columbia School Districts, in the negotiations of a credit facility with Canada Infrastructure Bank which will be used to assist with the funding of the purchase of "zero emission buses" by the School Districts. (June 2021).
  • Alberta Irrigation Project – advising eight Irrigation Districts in Alberta on the $815m project to modernize irrigation infrastructure and significantly expand irrigable land opportunities, which will be the largest irrigation expansion in Alberta's history. This project is also noteworthy for environmental sustainability as it will enable using less water more efficiently and provide mitigation from future droughts and floods due to climate change. It is also the first project to reach financial close under the Canada Infrastructure Bank's $10b Growth Plan and includes funding commitments of $407.5m from the Canada Infrastructure Bank and $244.5m from the Government of Alberta (closed December, 2020).
  • Fresno University Central Utility Plant Replacement P3 Project – advising a shortlisted sponsor group pursuing the Central Utility Plant Replacement P3 Project being brought to market by California State University, Fresno.
  • Philadelphia 30th Street Station P3 – advising a shortlisted sponsor on the Philadelphia William H. Gray III 30th Street Station P3 (which includes commercial and real estate development) being brought to market by Amtrak.
  • Bogota Metro – advising a shortlisted sponsor team on the US$5bn Bogota Metro P3 Project.
  • Maryland Purple Line Rail P3  Project – advising the sponsor team comprising InfraRed Capital, Walsh Group, Alstom, Vinci and Keolis on the procurement for the Purple Line Light Rail project in Baltimore Maryland. The US$2.3bn project is being delivered using a DBFOM model.
  • Alberta Schools #1 – advising Babcock & Brown, the successful proponent, with respect to all aspects of the $500 million Alberta Schools Project in Calgary and Edmonton and its UK bank financing. This project was awarded the "North American Social Infrastructure Deal of the Year" by Project Finance Magazine.
  • Quinte Court House – advising Brookfield Financial, the successful proponent, in connection with this courthouse project in Kingston, Ontario.
  • Surrey Pre-Trial – advising Brookfield Financial, the successful proponent, in connection with the Surrey Pre-Trial project (June 2011). This project was a Canadian Council for Public-Private Partnerships "Gold Award Winner for Innovation and Excellence in PPP.
  • Kelowna-Vernon Hospitals Project – advising Bilfinger Berger and John Laing, the successful proponent on the $435m Kelowna-Vernon Hospitals Project, which includes a new Patient Care Tower, a new University of B.C. Okanagan Clinical Academic Campus and parkade at Kelowna General Hospital and a new Patient Care Tower at Vernon Jubilee Hospital.
  • Canada Line Rail PPP Project – advising SNC-Lavalin, the successful sponsor, on the first DBFM rail-based rapid transit service P3 project in North America, which connects Vancouver with central Richmond and the Vancouver International Airport. This $1.8 billion project was awarded "North American Transport Deal of the Year" by Project Finance Magazine and "Infrastructure Deal of the Year – Americas" by PFI Magazine.
  • Evergreen Line Rail PPP Project – advising SNC-Lavalin, the successful sponsor, on this $1.2bn DBF rail-based rapid transit service in Vancouver connecting a new municipality to the existing SkyTrain rail network.
  • Billy Bishop Airport Access Tunnel – advising the successful sponsor consortium on this tunnel to the Toronto Island Airport.
  • Golden Ears Bridge – advising Bilfinger Berger BOT Inc., the successful proponent, in respect of all aspects of the Golden Ears Bridge Project in Vancouver, British Columbia. At approximately C$1 billion, this was one of the largest infrastructure project financings in Canadian history. Financing was by way of a UK bank syndicate with a monoline credit enhancement. This transaction was awarded "North American PPP Deal of the Year" by Project Finance and "North American Deal of the Year" from PFI Magazine.
  • Edmonton Ring Road #2 (also known as the Anthony Henday Drive North West) – advising the successful proponent (this project was awarded "PPP Deal of the Year – Americas" by PFI Magazine.
  • Calgary Ring Road #1 (also known as Northeast Stoney Trail Highway) – advising the successful proponent.
  • Kicking Horse Canyon Highway Upgrade – advising the successful proponent, on the Kicking Horse Canyon Phase 2 project, a combination highway and bridge DBFM project.

Lender Mandates

  • Fargo-Moorhead Diversion P3 – advising the United States Environmental Protection Agency's WIFIA Program in a US$561 million financing of a portion of the Fargo-Moorhead Metropolitan Area Flood Risk Management Project, a US$1.13 billion P3 (approximately US$350 million of private funds) that will from time to time reroute the Red River around the city of Fargo North Dakota and protect nearly 245,000 people from flood events, while at the same time manage spring snow-melt stormwater and summer stormwater, to restore the environmental quality of the area (closed June 2021).
  • Highway 407 ETR – acted as lead counsel to the Bank of Montreal led international banking syndicate providing the construction financing for Highway 407 in Toronto, Ontario. This transaction was awarded "North American Transport Deal of the Year" by Project Finance Magazine.
  • Riverside Forest Products Takeover – acted as lead counsel to a syndicate of banks led by Royal Bank of Canada in the financing of Tolko Industries Ltd.'s hostile take-over of Riverside Forest Products Ltd. – $400 million.

 

Infrastructure M&A

  • Portsmouth Bypass P3 – advising InfraRed Capital in the conduct of its sale of its interest in the Portsmouth Bypass P3. (2021).
  • Champlain Bridge P3 – advising BBGI SICAV SA on its  acquisition of HOCHTIEF PPP Solutions North America Inc.'s interest in the Champlain Bridge P3 in Montréal (2020).
  • Fort Detrick District Heating and Cooling – advising a shortlisted bidder in respect of the acquisition of a district heating, cooling and power asset located on Fort Detrick military base in Maryland, including leading the review of all contracts and preparation of a due diligence report.
  • Iqaluit Airport P3 – advising InfraRed Capital in the conduct of its sale by auction of its interest in Iqaluit Airport P3. (2019).
  • Student Transportation Inc. – advising Ullico Investments, a co-investor with CDPQ, in their approximately $2bn. cross-border / take private transaction to acquire Student Transportation Inc. (TSX:STB) (NASDAQ:STB) (2018).
  • Brookfield – Odebrecht Ambiental, Brazil – advising Brookfield, the successful acquirer of a 70 percent stake in Brazilian water and sewage concession company Odebrecht Ambiental (2017).
  • Plutonic Run of River Project – advising Fiera Axium and a consortium of Canadian pension funds in their acquisition of GE Canada's interest in the Plutonic 240MW run-of-river power project in British Columbia.
  • Dokie Wind Project – advising Fiera Axium and a consortium of Canadian pension funds in their acquisition of GE Canada's interest in the Dokie 150MW wind power project in British Columbia.
  • Brookfield – Weyerhaeuser Acquisition – acted as lead counsel to Brookfield on its C$1.4 billion acquisition of Weyerhaeuser's British Columbia private timberland assets.
  • Canadian Legal Lexpert Directory, 2020 - 2021: recommended in Corporate Commercial Law; Infrastructure Law; Project Finance 
  • Appointed Queen's Counsel in British Columbia in 2007
  • Prior to moving to New York in 2013, was one of only five Canadian lawyers ranked "Band 1" for "Projects" by Chambers Global: Worlds' Leading Lawyers
  • Chambers Global, USA, Projects: PPP, Chambers and Partners, 2018, 2020 - 2021
  • Chambers Global, Canada, Projects: PPP & Infrastructure, Chambers and Partners, 2018 - 2021
  • Chambers Global, USA, Projects, Chambers and Partners, 2018 - 2021
  • Chambers USA, USA - Nationwide, Projects: PPP, Chambers and Partners, 2019 - 2021
  • Best Lawyers in Canada, Mergers & Acquisitions Law, Project Finance Law, 2020-2022
  • "Convenient Realities" (co-authors: Ivan E. Mattei, Michael P. McGuigan), Project Finance Magazine, December 2013.
  • New York State Bar Association
  • Law Society of Upper Canada
  • Law Society of British Columbia