New Flyer ends offering of IDSs
|Areas||REITs and Income Securities, Tax|
Goodmans represented the underwriters in connection with New Flyer Industries Inc. and New Flyer Industries Canada UL's $200-million initial public offering of income deposit securities (IDSs). The offering was led by CIBC World Markets and BMO Nesbitt Burns and included a US$170-million credit facility. It was the first instance of a cross-border income securities structure being used in connection with a primarily Canadian operating business.