Tiffany Murray


[email protected]

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Tiffany is a partner in our Banking & Financial Services Group. Her practice includes secured lending, project finance, financial institution regulation, and structured finance and securitization.

In addition to her secured lending experience, she has a unique skill set that combines knowledge in Indigenous law, corporate law and trust law and has niche expertise in structuring transactions to facilitate security packages for secured lending transactions involving First Nations and other Indigenous peoples, including project finance transactions. She also advises on various corporate matters relating to First Nations and other Indigenous peoples. Tiffany self-identifies as an Indigenous lawyer and is a member of the Indigenous Law focus group at BLG.

Tiffany is also member of the firm's Environmental, Social and Governance (ESG) leadership team. For more than a decade, Tiffany has focused on loans for green and social purposes. Her project finance experience in green energy projects and her affordable housing financing experience makes her uniquely positioned to advise on Sustainable Finance matters.

Over the span of four years, Tiffany held various legal roles as in-house counsel at Canada's housing agency, including Acting Director (Capital Markets) and Acting Director for the National Housing Strategy Financing Initiatives where she supported various sectors and the agency's design and delivery of various initiatives to finance affordable housing in Canada.


  • Advising lender in connection with loans to a First Nation and affiliates, including financing for an equity investment in three solar projects.
  • Northland Power Inc. in connection with the establishment of a credit facility for its distribution utility Empresa de Energía de Boyacá (EBSA) in Colombia for an aggregate amount of approximately $465 million, including a synthetic Colombian peso tranche.
  • Advising lender in over 30 loans to owners of affordable housing projects designed and constructed to satisfy environmental and social outcomes.
  • RFA Capital Holdings Inc. and RFA Bank of Canada (formerly Street Capital Bank of Canada) in connection with a private securitization of mortgage renewal rights.
  • Advising lender in connection with a loan to a First Nation for equity ownership in a portfolio of four solar projects.
  • North Battleford Power L.P., the issuer and sponsor, on $668 million senior rated private placement bond financing of a 260 MW combined cycle baseload project located in Saskatchewan.
  • Spy Hill Power L.P., the issuer and sponsor, on $156 million senior rated private placement bond offering for 86 MW natural gas peaker project located in Saskatchewan.
  • The Manufacturers Life Insurance Company, the lead lender, on $70 million term loan project financing by Lameque Wind Power LP for a 45 MW nameplate capacity wind generation project located in New Brunswick.
  • Sun Life Assurance Company of Canada, the lead lender, on $100 million construction and term loans project financing for development and construction of four 5.5 MW hydroelectric generating facilities.
  • Northland Power Inc. on $576 million project financing of 13 solar projects with combined generating capacity of 130 MW located in Ontario, financed in four separate clusters.
  • Since 2008, advising Canada Mortgage and Housing Corporation and Canada Housing TrustTM No. 1 in connection with the Canada Mortgage Bond securitization program.

Beyond our Walls

Professional Involvement

  • Member, Canadian Bar Association

Awards & Recognitions

  • Recognized in the 2024 (and since 2022) edition of The Canadian Legal Lexpert Directory (Aboriginal Law; Banking & Financial Institutions).
  • Recognized in the 2023 edition of Lexpert Special Edition: Finance and M&A
  • Recognized in the 2023 edition (and since 2022) of Lexpert Special Edition: Energy

Bar Admission & Education

  • Alberta, 2021
  • Ontario, 2008
  • JD, Université de Toronto, 2007
  • MA, University of Waterloo, 2004
  • BA (Hons.), University of Waterloo, 2003