MONTREAL, May 6, 2015 /CNW Telbec/ - Laurentian Bank is pleased to announce the recent closing of a financing agreement with Bird Construction, Casey House and Infrastructure Ontario pursuant to a Public-Private Partnership in the province's health sector. Proceeds of the financing will serve to conduct major renovations and expansion work to Casey House, a Greater Toronto Area health care facility specializing in HIV/AIDS care and community outreach programs.
This past March, Infrastructure Ontario announced the signing of a fixed-price contract with Bird Construction to build and finance the 58,000 square-foot Casey House redevelopment project, which includes renovations to an existing heritage property and the construction of a new building, all to be combined under one roof. The new facility will accommodate in-patient beds, office space for home care programs, therapy rooms, community spaces, as well as new spaces for administrative and support services, with the ultimate goal of providing more efficient and seamless HIV/AIDS health care.
"We are very proud to be participating in such an important project within Ontario's health sector," said Sophie Boucher, Vice President, Syndication & International Markets within Business Services at Laurentian Bank. "Our involvement in this project is a reflection of Laurentian Bank's commitment to actively pursue PPP financings in the Canadian market."
The Laurentian Bank's Business Services group is focused on delivering tailor-made products and services to commercial clients across Canada through its specialized teams in the real estate, energy, infrastructure, transportation, construction, health, agricultural and manufacturing sectors. The Bank offers a comprehensive range of financing, leasing, investment and private banking solutions as well as a foreign exchange platform.
About Casey House
Casey House is a specialty HIV/AIDS hospital with community programs including home nursing care and outreach. Founded in 1988, Casey House was the first freestanding HIV/AIDS facility in Canada. Its commitment is to provide compassionate health care for people living with and affected by HIV/AIDS, in collaboration with its communities.
About Bird Construction
Bird Construction (TSX:BDT) is a Canadian based company which operates business as a general contractor, serving clients in the industrial, mining, institutional, retail, commercial, multi-tenant residential, light industrial, renovation and restoration sectors. Within the institutional sector, the company concentrates on design-build and other technically and logistically complex projects, including those in the public-private partnership market.
About Laurentian Bank
Laurentian Bank of Canada is a banking institution whose activities extend across Canada. The Bank serves one and a half million clients throughout the country and employs more than 3,700 people, whose talent and dedication have made it a major player in numerous market segments. The Bank has more than $37 billion in balance sheet assets and more than $42 billion in assets under administration.
Laurentian Bank distinguishes itself through the excellence and simplicity in its services. The Bank caters to the needs of retail clients via its branch network and virtual offerings. It has also earned a solid reputation among small and medium-sized enterprises and real estate developers thanks to its specialized teams across Canada in Ontario, Québec, Alberta, British Columbia and Nova Scotia. For its part, B2B Bank is a Canadian leader in providing banking and investment products and services to financial advisors and brokers, while Laurentian Bank Securities is known nationwide for its expertise and effectiveness in the provision of integrated brokerage services.
SOURCE Laurentian Bank of Canada
Gladys Caron, Vice-President, Public Affairs, Communications and Investor Relations, Office: (514) 284-4500, ext. 7511, [email protected]
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