Lost in last week’s news of more Canadian megamergers, Calgary’s Tervita Corp. unveiled a major restructuring that capped off the company’s near decade-long march toward a broken balance sheet, The Globe and Mail reported. As part of the complicated arrangement, the energy services and waste management company will swap its current debt for equity, with secured debt holders getting preferred shares and unsecured debt holders receiving common shares.

Tervita Corp., the Canadian oilfield services company focused on waste management, is planning a debt-for-equity swap to reduce its total leverage by about C$2 billion ($1.5 billion), Bloomberg News reported. Holders of 63 percent of its senior unsecured notes and 90 percent of its subordinated unsecured notes have agreed to the proposal, according to a statement on Wednesday from the closely-held company. Tervita also has secured agreement from 69 percent of its shareholders, the Calgary-based company said.

Lightstream Resources increased 2015 cash bonuses for three executives months before the Canadian oil producer proposed a debt-for-equity swap to stay afloat as its stock was down to pennies, the Chicago Tribune reported. Chief Financial Officer Peter Scott and Chief Operating Officer Rene LaPrade saw their non-equity compensation for last year, paid in December, increase about 11 percent from 2014 to C$200,000 ($153,000) each, according to a filing from the Calgary-based company on Friday. The bonus for Peter Hawkes, vice-president for geosciences, surged 32 percent to C$119,763.

Debt and equity investors in Canada's largest newspaper publisher have approved a restructuring plan that will give creditors nearly all of its equity and slash its debt obligations, Postmedia Network Canada Corp said on Wednesday. Postmedia, which owns the National Post, Montreal Gazette, Calgary Herald, Ottawa Citizen and Sun tabloids in Toronto, Calgary, Edmonton, Ottawa and Winnipeg, said that 99.9 percent of shareholder votes cast were in favor while two separate tiers of debtholders cast 100 percent of their votes in favor.

A few weeks ago the provincial government in British Columbia made headlines by instituting a 15% extra land transfer tax on any real estate transactions from foreign buyers in an attempt to cool Vancouver’s red-hot real estate market, The Motley Fool reported. Reaction to the new law was strong on both sides of the issue. Realtors, mortgage brokers, and bullish investors decried the move, calling it unfair and racist. This group not only thought the law itself was unfair, but the decision to implement the new tax immediately drew extra ire.

BlackBerry’s announcement that it will be restructuring its debt is “smart financial management,” one tech industry analyst says, CTV News reported. “It gives BlackBerry even more runway as it continues to manage its way through what’s become a very protracted transition period,” CTV technology analyst Carmi Levy said Friday. BlackBerry announced Friday that it will be redeeming US$1.245 billion worth of unsecured convertible debentures, which can be converted into shares in the company at a price of US$10 per share.

An international arbitration tribunal has ordered Venezuela to pay a Vancouver-based mining company more than $1.2 billion ($1.5 billion Cdn.) for expropriating its gold mines. Venezuela took over Rusoro Mining’s investments in the country as part of a nationalization of the gold industry in 2011, the Toronto Star reported on a Canadian Press story. Rusoro Mining Ltd. said Tuesday the money is due immediately and it expects that Venezuela will comply with its international obligations.

Canada's national housing agency gave Maple Bank GmbH's Canadian branch the green light during a financial review, just one month before the federal banking watchdog seized the company's assets amid a German tax investigation, documents show. Documents obtained by The Canadian Press through an access-to-information request show that the Canada Mortgage and Housing Corporation reviewed Maple Bank GmbH's status as an issuer of mortgage-backed securities and a seller of Canada Mortgage Bonds in January 2016.

Canadian oil producer Pacific Exploration & Production Corp said on Wednesday it a majority of its creditors approved a restructuring plan, which will help it emerge from bankruptcy, Reuters reported. The company had filed for creditor protection in Canada in April as it grappled with a prolonged slump in oil prices. Pacific Exploration said the restructuring plan was approved by 98.4 percent of the affected creditors including Catalyst Capital Group, which represented 97.2 percent in value of the eligible voting claims.

Tervita Corp., a Canadian provider of waste management services to the oil industry, plans to seek new credit after completing restructuring talks with lenders to slash its C$2.5 billion ($1.9 billion) worth of obligations, Bloomberg News reported. The company, which is using a 30-day grace period after skipping an interest payment on Monday, expects to be able to secure new lending after the restructuring thanks to its “good quality assets,” Vice President Ryan Wong said in an interview. The deal would involve converting some debt to equity, he said.