October 16, 2012

Regal Lifestyle Completes $153.8 Million IPO

Goodmans represented Regal Lifestyle Communities Inc. (TSX: RLC) (“Regal Lifestyle”) with respect to regulatory issues and The Toronto-Dominion Bank regarding the refinancing of certain mortgages and the establishment of a credit facility for Regal Lifestyle in connection with its initial public offering. On October 16, 2012, Regal Lifestyle completed its initial public offering of 15,379,700 common shares (including the over-allotment) at a price of $10.00 per common share. The offering raised gross proceeds of approximately $153.8 million (including the over-allotment) and was underwritten by a syndicate of underwriters co-led by CIBC and BMO Capital Markets, and including TD Securities Inc., RBC Dominion Securities Inc., Scotia Capital Inc., National Bank Financial Inc., Canaccord Genuity Corp., Desjardins Securities Inc. and Raymond James Ltd.

Regal Lifestyle acquires, owns and operates current-generation private-pay retirement homes providing compassionate care, up-market accommodation and amenities, as well as a complete spectrum of lifestyle and healthcare services.

"Goodmans' organisation, communication and coordination gives confidence that they are in control and understand every aspect of very complex and sophisticated transactions." — Chambers Canada
"We work with a number of law firms and this department in particular provides timely, proactive and well articulated legal advice." — Chambers Canada
"Goodmans is able to pull together teams to make sure 100% coverage of all risks is obtained. The firm is able to guide us through complex negotiations and interpret complex issues and documents." — Chambers Canada
Primarily recognized for its advice to corporate borrowers, where it routinely handles high-value transactions, it also has an increasingly prominent lender-side practice, with its recent work spanning advice to financial institutions and alternative lenders. — The Legal 500 Canada
The team's work has a significant emphasis on corporate lending, acquisition finance and real estate financing transactions. The department demonstrates considerable experience in managing cross-border transactions. — Chambers Canada
Goodmans LLP’s banking and finance team ‘positions its clients to make informed business decisions’. — The Legal 500 Canada
The banking and finance team at Goodmans has experienced counsels at all relevant levels, from senior partners to junior associates. — Chambers Canada
Clients note, "A very responsive team, which works well under tight timelines, provides quality work with minimal back and forth, and demonstrates attention to detail." — The Legal 500 Canada
...its borrower-side work and involvement in complex restructuring-related matters is particularly impressing. — The Legal 500 Canada
Clients note, "The team is extremely commercially oriented and able to get to the crux of the issue right away." — Chambers Canada
Clients note, "The firm provides sound advice on various complex and time-sensitive transactions including explaining our options and the related pros and cons to each decision." — Chambers Canada
Clients note, the Goodmans team takes a "Pragmatic, commercial view towards getting the transaction closed in a smooth, efficient manner," adding "Partners remain deeply engaged through the transaction." — IFLR1000
One client noted, "They bring a solid, pragmatic and commercial approach to dealing with key legal issues, are flexible and easy to work with, and are client focused." — Chambers Global
Clients remark, "#1 in senior housing sector expertise. #1 in helping network. Very professional and responsive. Great quality work.” — IFLR1000
On the Banking and Finance group, interviewees say: "Goodmans has an amazing team that is very responsive, knowledgeable, reliable and pleasant." — Chambers Global

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Regal Lifestyle Completes $153.8 Million IPO

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