DPL Trust Completes $515M IPO

DPL Trust completed, on July 8, 2002, its initial public offering by issuing three series of receivables-backed notes totalling approximately $515 million. The trust was established by National Bank of Canada as a securitization vehicle for certain of its personal loan portfolio. Each of the three series of receivables-backed notes issued by the trust were offered pursuant to a short-form prospectus and were secured by separate co-ownership interests in a revolving pool of fixed rate personal loans made by National Bank of Canada.
The underwriting syndicate was led by National Bank Financial Inc., and included Scotia Capital Inc., Merrill Lynch Canada Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., TD Securities Inc., Desjardins Securities Inc. and Laurentian Bank Securities Inc.
The trust and National Bank of Canada were represented by in-house counsel Andrée Grimard and Joanne Seto, international and capital markets, National Bank of Canada, and by McCarthy Tétrault LLP with a team consisting of Gordon Thompson, David Rounthwaite, Simon Fitzpatrick, Alpana Garg and Michael McConnell (business) and Gabrielle Richards (tax) in Toronto, David Field (business) in Calgary, Kevin Wright (business) in Vancouver and Sonia Struthers (business) in Montreal.
The underwriters were represented by Michael Rumball, Maurice Swan, and Kevin Kelly (tax) and Sterling Dietze and Simon Romano of Stikeman Elliott.


Sterling H. Dietze Simon A. Romano Simon R. Fitzpatrick F. David Rounthwaite Sonia J. Struthers Kevin Wright Maurice J. Swan F. Gordon Thompson David H. Field Michael K. McConnell