OMERS completed, on December 4, 2002, its first transaction accessing the capital markets by raising $500 million. The debt was issued by a wholly owned subsidiary, OMERS Realty Corporation, by way of 5.48 per cent series A debentures due 2012, guaranteed by OMERS. The debentures were offered on a private placement basis to certain qualified investors and were issued with an AAA rating by Dominion Bond Rating Service Limited and Standard & Poor’s.
McCarthy Tétrault LLP acted for OMERS and OMERS Realty, with a team that included Barry Ryan, Jonathan Grant, Sean Sorensen, Martha Hundert and Tara Cutler (business), Greg Winfield (pensions), Gord Sato (real property) and Jerald Wortsman (tax). The transaction was led by BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc. Goodmans LLP acted for the agents, with a team that included Juli Morrow and Allan Goodman.