On January 24, 2011, Cadillac Fairview Finance Trust (the “Trust”), an affiliate of the Ontario Teachers' Pension Plan Board (“OTPP”), issued $1.25 billion principal amount of 3.24 per cent Series A Debentures due January 25, 2016 and $750 million principal amount of 4.31 per cent Series B Debentures due January 25, 2021 (collectively, the “Debentures”) by private placement for total gross proceeds of approximately $2 billion. The Debentures are unconditionally and irrevocably guaranteed by OTPP. The Trust loaned the proceeds of the offering to Ontrea Inc., one of the entities comprising the real estate portfolio of OTPP.
The Debentures were offered for sale on a best-efforts basis in each of the provinces of Canada by a syndicate of agents co-led by TD Securities Inc. and RBC Dominion Securities Inc. that included BMO Nesbitt Burns Inc., CIBC World Markets Inc. and Scotia Capital Inc.
The Trust was represented by Davies Ward Phillips & Vineberg LLP with a team that comprised James Reid and Tiffany Jung (corporate/securities) and Ian Crosbie and Duncan Osborne (tax).
OTPP was represented by Torys LLP with a team that comprised David Dell, Glen Johnson, John Cameron and Michael Zackheim (corporate/securities) and John Unger (tax).
The agents were represented by a team from McCarthy Tétrault LLP that included Barry Ryan, Andrew Parker and Timothy Stewart (corporate/securities) and Gabrielle Richards (tax).