OSBFC Completes Offering of Pooled Debentures Ownership Interests in August 2005

On August 8, 2005, Ontario School Boards Financing Corp. (OSBFC) completed the offering of $122,875,000 2005-A1 pooled debentures ownership interests representing undivided co-ownership interests in $122,875,000 aggregate principal amount of 4.789 per cent fully amortizing debentures due August 8, 2030 purchased by OSBFC from six school boards in the Province of Ontario.

OSBFC was represented by Carol Pennycook, Lori Sullivan and Jim Nikopoulos (securities) and John Zinn (tax) of Davies Ward Phillips & Vineberg LLP. The underwriting syndicate was led by CIBC World Markets Inc. and included RBC Dominion Securities Inc., National Bank Financial Inc., Scotia Capital Inc., Laurentian Bank Securities Inc. and BMO Nesbitt Burns Inc. The underwriters were represented by Heather Douglas and Adam Segal (public sector finance and securities) and Craig Webster (tax) of Borden Ladner Gervais LLP.