Research cutoff: October 14, 2026, 6:38 a.m. Toronto.
Good morning. Four developments, four different stages of capital and dealmaking.
Cormorant lines up ownership and financing
Cormorant Utility Services has agreed to transition ownership to New Tide Capital LP, wholly owned by HPS Investment Partners, part of BlackRock. The Cambridge, Ontario power-services company has not announced completion of that ownership change.
It separately says it closed a term debt refinancing and agreed to a long-term banking partnership with Scotiabank. Neither the refinancing amount nor the ownership valuation is disclosed.
Cormorant says the developments strengthen its finances and bonding capacity. Richard Jackson’s management team will work with New Tide on its Power 2030 plan.
Source: Cormorant announcement, October 13
Zedcor adds committed borrowing room
Zedcor increased committed borrowing availability under its National Bank of Canada credit facility by one-third. The mobile security-tower and live-monitoring provider says it is ramping production and expanding U.S. branches.
The facility also includes an uncommitted accordion feature for potential expansion. Its terms and covenants are otherwise unchanged.
Our take: the distinction is committed capacity versus potential capacity. Neither tells us how much cash has been drawn.
Source: Zedcor announcement, October 13
RBC’s C$500-million Indigenous Bond
RBC announced a C$500-million, four-year callable fixed-to-floating Indigenous Bond. Proceeds are intended for loans supporting Indigenous communities and businesses across Canada.
The offering is expected to close October 16. RBC Capital Markets is sole bookrunner and lead agent, with Cedar Leaf Capital as co-lead agent.
This is an announced financing with a defined intended use; the release does not say those loans have already been disbursed.
Source: RBC announcement, October 13
Quick hit: a Penticton sale clears purchaser conditions
Yorkton says all purchaser conditions have been waived or satisfied for the sale of Winton Terrace Holdings Ltd., its subsidiary holding title to a 26-unit apartment building in Penticton, B.C.
Non-refundable deposits have been received. Closing is expected November 9, subject to the amended purchase agreement. The release does not disclose the total sale price.
This is progress on an existing agreement, with closing still ahead.
Source: Yorkton announcement, October 13
For information and education, not advice for a specific transaction or a prediction of value.
Make deal news part of your morning. Subscribe to Deal Flow Canada, and come back every weekday for fresh Canadian deal updates.