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Goodmans Deals & Cases

This section contains brief summaries of selected significant cases and transactions.  You'll also find representative lists  - by year - of major transactions and cases where Goodmans' involvement is a matter of public record or where inclusion in the list has been authorized by our clients.

H&R REIT Closes Financing and Repurchases Fairfax Debentures

2010

Areas Banking and Finance Law, Commercial Real Estate, Corporate and Commercial, Corporate Finance and Securities, REITs and Income Securities, Tax

Summary

Goodmans represented the syndicate of underwriters in connection with a bought deal offering pursuant to which H&R Real Estate Investment Trust (H&R REIT) issued $115 million principal amount of 5.196 per cent Series A Senior Debentures due February 3, 2015, and $115 million principal amount of 5.902 per cent Series B Senior Debentures due February 3, 2017. The debentures were sold to a syndicate of underwriters co-led by RBC Dominion Securities Inc. and TD Securities Inc., and that included CIBC World Markets Inc., Scotia Capital Inc. and BMO Nesbitt Burns Inc. 

The net proceeds from the offering were used by H&R REIT to repurchase all $200.0 million principal amount of 11.5 per cent debentures (the Fairfax Debentures) owned by Fairfax Financial Holdings and its affiliates (collectively, Fairfax). The Fairfax Debentures were repurchased on February 3, 2010 for approximately $230.0 million, including accrued interest from the last interest payment date.