November 12, 2013

HealthLease Properties REIT Completes $50 Million Debenture Offering

Goodmans represented HealthLease Properties Real Estate Investment Trust (“HealthLease”) in its offering of $50 million aggregate principal amount of 5.75% convertible unsecured subordinated debentures due November 30, 2018. The debentures are convertible, at the option of the holder, into trust units of the REIT at a price of $14.00 per trust unit.

The offering was completed on a bought deal basis and was underwritten by a syndicate of underwriters led by BMO Capital Markets and included Canaccord Genuity Corp., National Bank Financial Inc., CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc., Dundee Securities Ltd., GMP Securities L.P., Raymond James Ltd. and Euro Pacific Canada Inc. HealthLease intends to use the net proceeds of the offering to repay indebtedness incurred under its credit facility and for general business purposes.

HealthLease owns a premier portfolio of senior housing and care real estate in the United States and Canada.

"Goodmans has deep experience in capital markets and in the REIT space. Their service and responsiveness levels are also very high." — Chambers Canada
Goodmans LLP houses a full-service capital markets practice... Among its core strong suits, the group is arguably best known for its strength in SPACs, REITs and IPOs... — The Legal 500 Canada
"The team is very professional, solves problems efficiently and is very hard-working. It is a great pleasure and privilege to work with the team on cross-border transactions and multi-jurisdictional projects." — Legal 500 Canada
"It is one of our trusted and preferred legal firms when we go to select specific counsel. It is a leader in capital markets, and we trust the group's view and know that it works well." — Chambers Canada
A prominent player in REITs and SPAC-related offerings, also bearing an impressive record in cross-border and cannabis-related matters. — The Legal 500 Canada
Clients note, "They have an exceptional ability to understand the root of the issue and figure out realistic, step-by-step approaches to solve problems." — Chambers Canada
A distinguished practice valued for advising major REITs and financial institutions on innovative capital markets transactions. — Chambers Canada
On the Capital Markets group, one client says, "deep strength and expertise at all levels...nothing can replace stability and the fact that I have worked with Goodmans on both sides of the table since the early 2000’s." — Legal 500 Canada
One interviewee reported, "The Goodmans team as a whole is excellent," adding: "The lawyers are very responsive and get the job done. It is of great assurance to have them as our legal advisers." — Chambers Canada
Clients comment Goodmans Capital Markets team has "Deep experience, based upon decades of leadership in the sector." — IFLR1000
A client notes, "The lawyers that I have worked with at Goodmans are extremely professional, knowledgeable, creative and excellent service providers. The matters that we have worked on were extremely complicated and required high level of ability to combine understanding of our business objectives with legal analysis." — IFLR1000
Clients note the team's "institutional knowledge is very deep" and stated: "It's like they're part of the team they work with. They're extremely responsive." — Chambers Global

Practices

Industries

HealthLease Properties REIT Completes $50 Million Debenture Offering

Site Search

HealthLease Properties REIT Completes $50 Million Debenture Offering

Expertise

Featured Work