On May 5, 2003, Woodbridge Finance Corporation (WFC), a wholly owned subsidiary of The Woodbridge Company Limited (Woodbridge), established a private medium term note programme. The WFC programme provides for the issuance, on a private placement basis, of up to $375 million of medium term notes with terms of one to three years. The notes are guaranteed by WFC, and the guarantee is secured by a pledge by WFC of certain common shares of The Thomson Corporation.
On May 13, WFC issued $175 million principal amount of floating rate redeemable/retractable notes under the programme, with RBC Dominion Securities Inc., CIBC World Markets Inc. and TD Securities Inc. acting as placement dealers.
WFC and Woodbridge were represented by Torys LLP, with a team that included Mike Siltala, Adam Delean, Paul Noble, Jeremy Fraiberg and Anthony Shapiro. Christopher Hoffmann, Edward Kerwin and Robert Hansen of McCarthy Tétrault LLP represented the dealers.