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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.

RioCan REIT Completes $125 Million Preferred Trust Unit Offering

2011

Areas Corporate Finance and Securities, REITs and Income Securities, Tax

Summary

Represented RioCan Real Estate Investment Trust ("RioCan") in connection with the completion of the issuance of 5,000,000 Cumulative Rate Reset Preferred Trust Units, Series A (the "Series A Units") at a price of $25 per unit which included 1,000,000 Series A Units pursuant to the exercise in full of the underwriters’ over-allotment option for aggregate gross proceeds of $125 million. The offering was completed on January 26, 2011. This is the first issue of preferred trust units by a Canadian REIT. The distributions will be taxed as income not as dividends. The underwriting syndicate for the offering was co-led by RBC Capital Markets, Macquarie Capital Markets Canada Ltd. and Scotia Capital Inc. The offering was made under RioCan's amended and restated base shelf prospectus dated December 21, 2010. RioCan is Canada's largest real estate investment trust owing and managing Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 296 retail properties.