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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 $230 Million Offering of Trust Units

2012

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

Summary

Goodmans represented RioCan Real Estate Investment Trust ("RioCan") in connection with the completion of its issuance of an aggregate of 8,584,750 trust units (the "Units") at a price of $26.80 per Unit for aggregate gross proceeds of $230,071,300. The aggregate offering was comprised of the previously announced issuance of 7,465,000 Units at $26.80 per Unit for gross proceeds of $200,062,000, together with the option granted to the underwriters, which was exercised in full, for an issuance of an additional 1,119,750 Units for $26.80 per Unit for additional gross proceeds of $30,009,300. The underwriting syndicate for the offering was co-led by RBC Capital Markets and TD Securities Inc. and included BMO Nesbitt Burns Inc., CIBC World Markets Inc., Scotia Capital Inc., National Bank Financial Inc., Canaccord Genuity Corp., Citigroup Global Markets Canada Inc., Macquarie Capital Markets Canada Ltd., and Raymond James Ltd. The offering was made under a prospectus supplement dated April 13, 2012 to RioCan’s amended and restated base shelf short form prospectus dated December 21, 2010 amending and restating the base shelf short form prospectus dated July 26, 2010.

RioCan is Canada’s largest real estate investment trust with a total capitalization of approximately $12.5 billion as at December 31, 2011. It owns and manages Canada’s largest portfolio of shopping centres with ownership interests in a portfolio of 331 retail properties containing an aggregate of over 79 million square feet, including 45 grocery anchored and new format retail centres containing 12 million square feet in the United States through various joint venture arrangements.  RioCan’s portfolio also includes 10 properties under development in Canada.