Ontario Teachers\' Pension Plan Raises $600M

The Ontario Teachers’ Pension Plan completed, on April 9, 2003, its second transaction accessing the capital markets by raising $600 million. The debt was issued by a wholly owned subsidiary, Ontrea Inc., by way of 5.57 per cent series B debentures due 2013, guaranteed by the Ontario Teachers’ Pension Plan. The debentures were offered on a private placement basis to certain qualified investors. The syndicate of agents was led by TD Securities Inc., and included BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc.

S. Paul Mantini, Kyly Genga and Andy Kingsmill (securities) of Bennett Jones LLP acted for the Ontario Teachers’ Pension Plan under the direction of in-house counsel Roger Barton and Michael Padfield. Goodmans LLP acted for Ontrea, with a team that included Juli Morrow, Allan Goodman and Thiago Kurtz. McCarthy Tétrault LLP acted for the agent syndicate, with a team that included Barry Ryan, Jonathan Grant, Gregory Winfield and Sumit Soni.