OMERS Issues First Commercial Paper Program

On October 9, 2003, Ontario Municipal Employees Retirement System (OMERS) completed its first transaction under the new program by accessing the Canadian short term money markets with an issue of $300 million of commercial paper. The debt was issued by a wholly owned subsidiary, OMERS Realty Corporation, by way of short term promissory notes, guaranteed by OMERS. The notes were offered on a private placement basis to certain qualified investors. The transaction was co-led by BMO Nesbitt Burns, CIBC World Markets Inc. and RBC Dominion Securities Inc. OMERS and OMERS Realty were represented by McCarthy T├ętrault LLP, with a team that included Barry Ryan and Justin Lapedus.