The downtown core of Calgary June 23, 2013.John Lehmann/The Globe and Mail
On Sunday, Acumen Capital Finance Partners Ltd. couldn't even get into its offices in Calgary after the city was inundated.
By Tuesday, the brokerage was printing a good sized bought deal as lead underwriter. Acumen led a $92-million financing for Alaris Royalty Corp., which hit the tape late Tuesday night. There are plenty of numbers floating around about just how much the flood is going to shave off of economic activity. But Calgary might surprise if the Alaris deal is any indication.
Acumen's office is in the heart of downtown Calgary, which was swamped and where the power was out much of the weekend. There was a plan to have all the bankers work from home or other sites if need be, but the firm's workers were able to get back into the building late Saturday.
Sunday, with the power back on, the technology staff got the systems up and running and the last key step – an internet connection, happened late on Sunday night.
Tuesday night, the deal was priced. In addition to Acumen, Cormark Securities, RBC Dominion Securities, Canaccord Genuity, National Bank Financial and Raymond James joined the syndicate.
Come and meet the Streetwise team at noon (ET) at the Royal Bank Plaza concourse in Toronto on Thursday, June 27. Ask your questions @streetwiseglobe
(Boyd Erman is a Globe and Mail Reporter & Streetwise Columnist.)
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