Decoma Completes Debenture Offering

On March 27, 2003, Concord, Ontario-based Decoma International Inc., a full service supplier of exterior vehicle appearance systems, completed an offering of $100 million aggregate principal amount of 6.5 per cent convertible unsecured subordinated debentures due March 31, 2010. The offering was made on a bought deal basis through a syndicate of underwriters led by CIBC World Markets Inc., and including RBC Capital Markets Inc., BMO Nesbitt Burns Inc., Griffiths McBurney & Partners, National Bank Financial Inc. and Scotia Capital Inc. The net proceeds of the offering will be used to fund Decoma’s capital expenditure requirements for 2003, to fund further acquisitions and might be used to pay down outstanding indebtedness.

Decoma was represented in-house by David Benson, executive vice-president, secretary and general counsel, and Joanne Horibe, legal counsel, and by Torys LLP with a team that included Brian Davis, Glen Johnson, Paul Guthrie and Ernest Wheeler (corporate/securities), John Unger and Ron Nobrega (tax) in Toronto and Andy Beck (corporate/securities) in New York. Goodmans LLP represented the syndicate of underwriters, with a team led by Stephen Halperin and including Allan Goodman and Kari MacKay (corporate/securities) and Maureen Berry (tax).