On August 10, 2000, Legacy Hotels Real Estate Investment Trust, which owns a portfolio of 18 luxury and first class full service hotels across Canada and is listed on the TSE, completed a $55 million bought deal equity offering. It sold 6.4 million units to a syndicate of investment dealers lead by CIBC World Markets. 3.5 million of the units were purchased by Canadian Pacific Hotels & Resorts Inc.
McCarthy Tétrault assisted Terence Badour and Patricia Wakelin of Fairmont Hotels with the transaction. The McCarthy’s team included Daryl McLean, David E. Woollcombe, Stuart Miller, Amer M. Chaudhry (corporate) and James G. Morand (tax). Blake, Cassels & Graydon LLP acted for the underwriters CIBC World Markets Inc., RBC Dominion Securities Inc., Newcrest Capital Inc. and TD Securities Inc. with a team that included Frank Arnone and Anoop Dogra (securities/corporate), Jeffrey Trossman and Peter Lee (tax), and David O’Brien and Frances Peng (real estate).