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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 and H&R Finance Trust Complete Bought Deal Financing

2011

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

Summary

Goodmans represented the syndicate of underwriters in connection with the completion by H&R Real Estate Investment Trust (the REIT) and H&R Finance Trust (collectively, H&R) of a bought deal financing pursuant to which H&R issued 8,500,000 stapled units at a price of $22.00 per stapled unit and the REIT issued $75 million aggregate principal amount of 4.50 Series E convertible unsecured subordinated debentures due December 31, 2016, for total aggregate gross proceeds of $262 million. The stapled units and convertible debentures were sold to a syndicate of underwriters co-led by CIBC World Markets Inc. and RBC Dominion Securities Inc., and included BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Genuity Corp. and Raymond James Ltd.

The net proceeds from the financing will be used by H&R to repay bank indebtedness, fund future property acquisitions and for general trust purposes, including, in the case of H&R Finance Trust, for the subscription of additional notes to be issued by H&R REIT (U.S.) Holdings Inc.