Genesis Trust II $1B Initial Notes Offering

Genesis Trust II completed an initial public offering of $1,040,582,727 of fixed rate real estate secured line of credit-backed notes. Genesis Trust II is a special purpose securitization vehicle that issues asset-backed notes to the public to finance the purchase of co-ownership interests in a pool of receivables generated in real estate secured line of credit accounts established by TD Bank and The Canada Trust Company.

The offering was made through a syndicate of underwriters led by TD Securities Inc., and included BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., RBC Dominion Securities Inc. and Scotia Capital Inc.

Working with the TD Bank Group was in-house counsel Jennifer Lee (managing counsel) and Scott MacIntosh (counsel). TD Bank Group and Genesis Trust II were represented by McCarthy Tétrault LLP with a team of Marc MacMullin, Michael McConnell, Candace Pallone and D.J. Lynde (corporate) and Robert Metcalfe (Quebec matters) and James Morand (tax).

The underwriters were represented by Torys LLP with a team of Michael Feldman, Jim Hong, Mohammed Muraj (corporate) and John Tobin (tax).