On June 3, 2003, St. John’s Newfoundland-based Fortis Inc., an electric utility holding company, completed a public offering of five million 5.45 per cent series C first preference shares at $25 per share for gross proceeds of $125 million. The offering was made through a syndicate of underwriters led by Scotia Capital Inc., and including BMO Nesbitt Burns Inc., National Bank Financial Inc. and Beacon Securities Limited. The sale included an underwriters’ option to purchase one million shares, which was exercised in full prior to closing.
Fortis was represented in-house by Ron McCabe, general counsel and corporate secretary; by Davies Ward Phillips & Vineberg LLP with a team that included Arthur Shiff, Jim Reid and Kerry O’Reilly (corporate and securities) and Colin Campbell and Siobhan Monaghan (tax); and by Aubrey Bonnell, Q.C., and Regan O’Dea of Curtis, Dawe, acting as Newfoundland and Labrador counsel. Stikeman Elliott LLP acted for the underwriters, with a team that included Joel Binder and Nir Katzour (corporate and securities) and Lianne Miller (tax).
Fortis was represented in-house by Ron McCabe, general counsel and corporate secretary; by Davies Ward Phillips & Vineberg LLP with a team that included Arthur Shiff, Jim Reid and Kerry O’Reilly (corporate and securities) and Colin Campbell and Siobhan Monaghan (tax); and by Aubrey Bonnell, Q.C., and Regan O’Dea of Curtis, Dawe, acting as Newfoundland and Labrador counsel. Stikeman Elliott LLP acted for the underwriters, with a team that included Joel Binder and Nir Katzour (corporate and securities) and Lianne Miller (tax).
