CML Healthcare Completes Senior Secured Note Offering

On August 6, 2004, CML Healthcare Income Fund completed a $190 million debt offering with a syndicate of institutional investors in Canada and the United States. The cross-border private placement of CML’s senior secured notes was carried out by TD Securities acting as sole agent for CML. The proceeds from the offering were used to replace CML’s existing credit facilities.
The fund was represented by Goodmans, with a team that was led by Jeffrey A. Citron and included Steve Cohen and Victor Liu (corporate finance/securities) and Maureen Berry (tax); and in the US by Skadden, Arps, Slate, Meagher & Flom, with a team that included Christopher Morgan and Robert Normandeau.

The investors in Canada were represented by McCarthy Tétrault, with a team led by David Woollcombe (corporate finance) and included Jerald Wortsman (tax), Mark Rasile (financial services), Jonathan Gitlin (real estate), Keith Lau (corporate finance) and Anne-Marie Durand (corporate finance); and in the US by Chapman and Cutler, with a team that was led by Neil Mann and included Amy Ritter and Todd Cubbage.