H&R Real Estate Enters Into Bought Deal Financing

On October 16, 2001, H&R Real Estate Investment Trust entered into a bought deal financing with an underwriting syndicate led by Merrill Lynch Canada Inc. Pursuant to the deal, H&R agreed to sell 10 million units at a price of $12.45 per unit for an aggregate purchase price of $124.5 million. H&R has also granted the underwriters an over-allotment option to purchase an additional 1,500,000 units at the same price. The deal closed on November 2, 2001.

Will Fung, Jules Lewy and Dan Dishy of Fraser Milner Casgrain LLP acted on behalf of H&R with assistance from David Kutner and Leonard Baranek of Minden Gross Grafstein & Greenstein LLP concerning H&R’s real estate matters. David Matlow, Ken Herlin, Jeff Shore, Matt Angus and Allan Bowman of Goodmans LLP acted on behalf of the underwriters, which included CIBC World Markets, RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc., HSBC Securities (Canada) Inc. and Raymond James Ltd.


Jules Lewy Matthew Angus Ken Herlin David M. Kutner David J. Matlow Alan Bowman Dan Dishy Leonard E. Baranek Jeffrey Shore William Fung