On May 15, 2002, PBB Global Logistics Income Fund completed an initial public offering of 4.5 million trust units at $10 per unit, for gross proceeds of $45 million. The offering was underwritten by a syndicate led by CIBC World Markets Inc. and including Scotia Capital Inc., TD Securities Inc. and Canaccord Capital Corporation. The fund, through its subsidiaries, is one of Canada’s leading providers of third-party international logistics services. PBB was founded in 1946 and provides supply chain solutions and global service.
Torys LLP acted for the fund, with a team that included Jamie Scarlett, Vanessa Grant, Peter Walker, Marni Halter and Gavin Sinclair (securities, corporate), Corrado Cardarelli and Ann Marie McGovern (tax), Rose Bailey and Conrad Sheppard (commercial), Chris Medland (pension, benefits and employment) and Carolyn Naiman (antitrust and competition).
Fasken Martineau DuMoulin LLP acted for the underwriters, with a team that included Joel Binder, Sean Stevens and Aaron Atkinson (securities, corporate), Pat McCay (tax) and Jon Holmstrom, Munier Saloojee and John Andrade (commercial).