OSBFC Issues Debentures

On November 7, 2003, Ontario School Boards Financing Corporation (OSBFC) closed the issuance and offering of $200 million 2003-A1 pooled debentures ownership interests and $258.091 million 2003-A2 pooled debentures ownership interests, representing undivided co-ownership interests in $200 million 5.3 per cent sinking fund debentures due on November 7, 2013, and $258.091 million 5.8 per cent amortizing debentures due on November 7, 2028, of 17 school boards in the province of Ontario, for the aggregate principal amount of $458.091 million.

OSBFC was represented by Carol Pennycook, Lori Sullivan and John Zinn (tax) of Davies Ward Phillips & Vineberg LLP. The underwriters, led by CIBC World Markets Inc., were represented by Heather Douglas and Adam Segal of Borden Ladner Gervais LLP.

Lawyer(s)

Adam Segal Heather R. Douglas Lori K. Sullivan Carol D. Pennycook John Zinn