TransactionsToronto Hydro Completes IPO of Debt SecuritiesPublished: 08/19/2010 By Erik Goldsilver, Jeffrey P. Roy On May 7, 2003, Toronto Hydro Corporation completed an initial public offering of $225 million 6.11 per cent senior unsecured debentures due 2013. The syndicate of underwriters was led by RBC Dominion Securities Inc., and included CIBC World Markets Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc. and TD Securities Inc. Concurrently with the closing of the debenture offering, Toronto Hydro refinanced its outstanding short-term credit facilities under a new $500 million short-term facility with CIBC acting as the administrative agent and lead arranger for the lending syndicate. A team led by Jeffrey Roy (Securities) and Erik Goldsilver (Business Law) of Cassels Brock & Blackwell LLP acted for the City of Toronto under the direction of in-house counsel Lorraine Searles-Kelly. |