Canadian Lawyer InHouse

February/March 2021

Legal news and trends for Canadian in-house counsel and c-suite executives

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Page 8 of 41 7 Markets and AltaCorp and including CIBC Capital Markets. Aurora Cannabis plans to use the net proceeds of the offering to fund growth opportunities, working capital and other general corporate purposes. Aurora is a global leader in the cannabis industry. Tervita Corporation secures US$500-million private offering Tervita Corporation successfully completed a private offering of a US$500-million aggregate principal amount of 11 per cent senior second lien secured notes due 2025 and the amendment and restatement of its $350-million revolving credit facility. Proceeds of the offering, with a combination of cash on hand and available borrowings under its amended and restated revolving credit facility, were used to repurchase or redeem all of the US$590-million aggregate principal amount outstanding of Tervita's 7.625 per cent senior secured notes due 2021. Granite completes $288-million offering of stapled units Granite Real Estate Investment Trust and Granite REIT Inc. completed an offering of 3,841,000 stapled units, inclusive of 501,000 units issued pursuant to the exercise in full of the over-allotment option, for total gross proceeds of $288,075,000. The offering was conducted through a syndicate of underwriters co-led by BMO Capital Markets and TD Securities Inc. and including Scotia Capital Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., National Bank Financial Inc., Goldman Sachs Canada Inc., Raymond James Ltd., Canaccord Genuity Corp., Desjardins Securities Inc. and Industrial Alliance Securities Inc. H&R REIT completes $250-million debenture financing H&R Real Estate Investment Trust has completed an offering of a $250-million principal amount of 2.906 per cent Series R senior unsecured debentures due June 2, 2026. The debentures were sold on a private placement "best efforts" agency basis by a syndicate of agents that was co-led and bookrun by Scotia Capital Inc. and CIBC World Markets Inc., and including BMO Capital Markets, TD Securities Inc. and National Bank Financial Inc. The net proceeds of the offering will be used by H&R REIT for the repayment of outstanding indebtedness and for general trust purposes. IMCO launches Canadian Public Equity Pool The Investment Management Corporation of Ontario announced the successful launch of its Canadian Public Equity Pool, IMCO's first structured pool of assets for its clients, with approximately $3.5 billion in assets. The IMCO Canadian Public Equity Pool is a major milestone in advancing IMCO's mandate of providing public sector institutions with access to world-class, multi-strategy investment management services in a cost-effective manner. This has been a giant step forward for IMCO as an organization. Aurora Cannabis Inc. completes cross-border offering Aurora Cannabis Inc. completed a US$165-million cross- border offering of units pursuant to a supplement to its base shelf prospectus. Each unit consists of one common share and one half of one common share purchase warrant. The units were sold through a syndicate of underwriters led by BMO Capital Deloitte welcomes Sarah Qadeer Sarah Qadeer has joined Deloitte as chief legal officer, partner and a member of the executive team. She fills a position recently vacated by Ken Fredeen who led Deloitte's legal team for 20 years. Qadeer brings more than 22 years of legal experience to the role — most recently as general counsel at The Home Depot Canada Inc., where, in addition to legal oversight, she helped to shape strategy and operational excellence as part of the company's executive team. In her new role, Qadeer is responsible for leading Deloitte's legal strategy and for overseeing the in-house legal and corporate governance team for Canada and Chile. Simon Fish steps down from GC role at BMO Simon Fish has stepped down as general counsel at BMO Financial Group and assumed a new position as special advisor to the CEO. In his new role, Fish advises on the continued development and implementation of the bank's ongoing sustainability strategy and ESG programs. His immediate priorities in 2021 include a climate risk analysis, a focus on environmental and social sustainability including Indigenous rights and human rights and impact measurement, which will include quantifying and reporting on the impacts of emerging methodologies in relation to responsible banking. Sharon Haward-Laird has replaced Fish as general counsel.

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