Legacy REIT Completes Second Bought Deal Financing

On November 21, 2002, Legacy Hotels Real Estate Investment Trust completed a second bought deal financing pursuant to which it issued $100 million aggregate principal amount series 3 floating rate debentures for aggregate gross proceeds to Legacy of approximately $100 million.

Legacy was represented in-house by Terence Badour, secretary, and by McCarthy Tétrault LLP with a team that included Daryl McLean, Peter Goode and Jeffrey Johnstone (corporate/securities) and Jim Morand (tax).

The offering was underwritten by TD Securities Inc. Frank Arnone, Michael Gans and Erica Young (securities), Jeff Trossman and Peter Lee (tax) and Ric McIvor (financial services) of Blake, Cassels & Graydon LLP acted for TD Securities.