David A. Seville
David A. Seville
Partner at Torys LLP
(416) 865-7821
(416) 865-7380
79 Wellington St W, Suite 3000, Box 270, TD Ctr, Toronto, ON
Year called to bar: 1998 (ON)
Co-Head of Torys’ Capital Markets Practice. Practice focuses on corporate and securities law, with an emphasis on corporate finance, private equity and mergers & acquisitions. Clients include Manulife Financial, Scotiabank, RBC Dominion Securities, TD Securities, National Bank Financial, CIBC World Markets, Canadian Western Bank, Ontario Teachers’ Pension Plan Board, Canada Guaranty Mortgage Insurance Company, Birch Hill Equity Partners, Starwood Energy Group, The Woodbridge Company Limited, Thomson Reuters, CTVglobemedia and The Globe and Mail. Ontario Bar, 1998. LLB, 1996, Dalhousie Law School. BA (Economics), 1993, Laurentian University.
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On Nov. 25, 2020, Intact Financial Corporation (Intact) completed private placements of subscription receipts to Caisse de dépôt et placement du Québec, Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan Board (collectively, the Cornerstones) for aggregate gross proceeds of approximately $3.2 billion
On November 21, 2017, Manulife Financial Corporation (Manulife) completed an offering in Singapore of SGD 500-million principal amount of 3.00 per cent subordinated notes due November 21, 2029 (the Notes). The Notes will bear interest at a fixed rate of 3.00 per cent until November 21, 2024, and thereafter at a rate of 0.832 per cent over the prevailing five-year SGD Swap Rate.
On July 7, 2016, Canadian Western Bank (CWB) closed its domestic public offering of 6,125,000 common shares at a price of $24.50 per share to raise gross proceeds of approximately $150 million.
On March 31, 2016, Canadian Western Bank (CWB) completed a public offering of 5,600,000 non-cumulative 5-year rate reset First Preferred Shares Series 7 (Non-Viability Contingent Capital (NVCC)) (the Series 7 Preferred Shares), at a price of $25 per share to raise gross proceeds of $140 million.
On March 4, 2016, Manulife Financial Corporation (Manulife) completed a public offering in the United States of US$1.75 billion aggregate principal amount of two series of its senior notes consisting of US$1.0 billion aggregate principal amount of 4.150 per cent senior notes due 2026 and US$750 million aggregate principal amount of 5.375 per cent senior notes due 2046.
On February 16, 2016, The Empire Life Insurance Company (the Corporation or Empire Life) issued $130 million of Non-Cumulative Rate Reset Preferred Shares, Series 1 (the Series 1 Preferred Shares).
On November 20, 2015, The Manufacturers Life Insurance Company (MLI) issued $1 billion aggregate principal amount of subordinated debentures.
The Manufacturers Life Insurance Company (MLI) issued $350 million aggregate principal amount of subordinated debentures.
On March 10, 2015, The Manufacturers Life Insurance Company (MLI) issued $750 million aggregate principal amount of subordinated debentures.
Sears Holdings Corporation completed the sale of 40,000,000 common shares of Sears Canada Inc. at US$9.50 per share for aggregate proceeds of US$380 million pursuant to a rights offering made to the holders of Sears Holdings common shares.
The Manufacturers Life Insurance Company (MLI) issued $500 million aggregate principal amount of subordinated debentures. The 2.64 per cent fixed/floating subordinated debentures, which are due January 15, 2025, and are guaranteed by Manulife Financial Corporation on a subordinated basis, were offered through a syndicate of dealers co-led by RBC Capital Markets, BMO Capital Markets and TD Securities and which included CIBC World Markets Inc., Scotia Capital Inc., Merrill Lynch Canada Inc., National Bank Financial Inc., HSBC Securities (Canada) Inc., Desjardins Securities Inc., Canaccord Genuity Corp., Laurentian Bank Securities Inc. and Manulife Securities Incorporated.
The Manufacturers Life Insurance Company, a wholly-owned subsidiary of Manulife Financial Corporation, acquired the holding company of The Standard Life Assurance Company of Canada and Standard Life Investments Inc. from Standard Life plc in consideration for a payment of CAD$4 billion in cash.
Manulife Financial Corporation issued 10 million Non-cumulative Rate Reset Class 1 Shares Series 19, at a price of $25 per share to raise gross proceeds of $250 million.
Manulife Financial Corporation issued $200 million of Non-cumulative Rate Reset Class 1 Shares Series 11. The Preferred Shares were issued to the public at a price of $25.00 per Preferred Share and holders will be entitled to receive non-cumulative preferential quarterly dividends as and when declared by the board of directors of Manulife, to yield 4.00 per cent annually commencing on the closing date and ending on, and including, March 19, 2018.
On December 6, 2011, Manulife Financial Corporation issued $200 million of Non-cumulative Rate Reset Class 1 Shares Series 5.