Queen's University Closes Infrastructure Financing

Queen’s University closed. on November 19. 2002. a $90 million issuance of 6.10 per cent series A senior unsecured debentures due in 2032. The funding will be used to finance university capital projects. including the construction of two new residences. renovations to the Leonard Hall cafeteria. and the completion of Chernoff Hall. The proceeds of the offering will also be used to retire a portion of existing long-term debt and for general purposes.

The university was represented in-house by Diane Kelly. university solicitor. legal services. and by Marc MacMullin. Jasprit Gill and Matthew Kelleher of McCarthy Tétrault LLP. The agents for the offering were led by RBC Dominion Securities Inc.. and included CIBC World Markets Inc. Davies Ward Phillips & Vineberg LLP represented the agents. with a team comprised of Carol Pennycook. Vincent Mercier and Ryan Voegeli (corporate) and John Zinn (tax).