On March 7, 2002, York University closed a $200 million issuance of 6.48 per cent senior unsecured debentures due 2042. The funding will be used to finance capital projects of the university, including the construction of the Executive Learning Centre, a student residence, two parking structures and portions of three academic buildings, and for general university purposes. The debentures have been assigned an AA(low) rating by Dominion Bond Rating Service Limited and an AA- rating by Standard & Poor’s ratings service.
The university was represented in-house by Harriet Lewis, secretary and general counsel; and Rene Sorell, Godyne Sibay, Marc MacMullin, Jasprit Gill and Matthew Kelleher of McCarthy Tétrault LLP. The underwriters, Scotia Capital Inc. and CIBC World Markets Inc., were represented by Alexandra Raphael and Jeff Roy of Cassels Brock & Blackwell LLP.