BC Gas Inc. completed a $188 million offering of subscription receipts on November 20, 2001. Each receipt represents the right to receive one common share of BC Gas following the acquisition by BC Gas of Centra Gas British Columbia Inc. and Centra Gas Whistler Inc. from Westcoast Energy Inc. The proceeds of the offering will be used to finance a portion of the purchase price of the acquisition. The underwriting syndicate consisted of RBC Dominion Securities Inc., Scotia Capital Inc., CIBC World Markets Inc., TD Securities Inc., National Bank Financial, BMO Nesbitt Burns Inc. and Raymond James Financial, Inc.
Elizabeth Harrison, Q.C., David Selley and Priva Reddy of Farris, Vaughan, Wills & Murphy acted for BC Gas. Jonathan Drance, John Anderson and Inge Poulus of Stikeman Elliott’s Vancouver office acted for the underwriters.