Rogers Sugar Income Fund Completes Unit Offering

On February 20, 2003, Rogers Sugar Income Fund completed a public offering of $50.16 million of trust units. The proceeds of the offering were used to repay bank debt of Lantic Sugar Limited, a wholly owned subsidiary of the fund. CIBC World Markets Inc. and Scotia Capital Inc. led the underwriting syndicate, which also included TD Securities Inc., National Bank Financial Inc. and Griffiths McBurney & Partners.

The fund was represented by Bill Ainley, Mitchell Finkelstein, Lori Sullivan and Jennifer Grossklaus (corporate and securities), Ian Crosbie and John Zinn (tax) and Gray Taylor (environmental) of Davies Ward Phillips & Vineberg LLP. The underwriters were represented by McCarthy Tétrault LLP, with a team that included Graham Gow, Susan Goscoe and Ian Michael (corporate and securities) and Gabrielle Richards (tax) in Toronto, Lorna Telfer (securities), Vanessa DuMoulin (environmental) and George Maziotis (corporate) in Montreal and Jim Titerle (environmental) in Vancouver.