On November 17, 2004, Clarington Diversified Income + Growth Fund, an investment trust, completed an initial public offering of 6,500,000 units at $10 per unit for gross proceeds of $65 million. The offering was made through a syndicate of agents led by CIBC World Markets Inc., and included RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Dundee Securities Corp., HSBC Securities (Canada) Inc., Wellington West Capital Inc., Canaccord Capital Corp., Desjardins Securities Inc., First Associates Investments Inc., and Raymond James Ltd.
The net proceeds of the offering, together with an amount advanced under a loan facility provided by the Bank of Nova Scotia, will be invested in a portfolio which will consist primarily of income trusts, growth equities, dividend paying equities, high yield corporate bonds and investment grade corporate bonds.
Clarington was represented by in-house counsel Nawaz Meghji, and Stikeman Elliott LLP, with a team that included Joel Binder, Stewart Sutcliffe, Kathleen Ward and Adam Kline (securities/corporate), Mark McElheran and Justin Parappally (banking) and Lianne Miller (tax).
The agents were represented by Osler, Hoskin & Harcourt LLP, with a team that included Andrew Aziz, Desmond Lee and Shane Priemer (securities/corporate) and Andrew McGuffin and Tim Hughes (tax).
The Bank of Nova Scotia was represented by McMillan Binch LLP, with a team led by Richard Higa (corporate finance).
The net proceeds of the offering, together with an amount advanced under a loan facility provided by the Bank of Nova Scotia, will be invested in a portfolio which will consist primarily of income trusts, growth equities, dividend paying equities, high yield corporate bonds and investment grade corporate bonds.
Clarington was represented by in-house counsel Nawaz Meghji, and Stikeman Elliott LLP, with a team that included Joel Binder, Stewart Sutcliffe, Kathleen Ward and Adam Kline (securities/corporate), Mark McElheran and Justin Parappally (banking) and Lianne Miller (tax).
The agents were represented by Osler, Hoskin & Harcourt LLP, with a team that included Andrew Aziz, Desmond Lee and Shane Priemer (securities/corporate) and Andrew McGuffin and Tim Hughes (tax).
The Bank of Nova Scotia was represented by McMillan Binch LLP, with a team led by Richard Higa (corporate finance).
