Magna Entertainment Corporation, owner and operator of thoroughbred racetracks, recently completed the issuance of US$75 million aggregate principal amount of 7¼ per cent convertible subordinated notes due December 15, 2009. Based in Delaware, the company has a head office in Aurora, Ontario. The offering was a Rule 144A offering in the U.S. and a private placement to eligible purchasers in certain provinces of Canada. The offering was completed on December 2, 2002. The deal was led by BMO Nesbitt Burns Corp. and CIBC World Markets Corp. in New York as initial purchasers.
Magna Entertainment was represented in-house by Gary Cohn, vice-president, special projects; Ed Hannah, executive vice-president and general counsel; Richard Crofts, corporate counsel; and Joe Milstone, associate general counsel. In Canada, Magna Entertainment was represented by Osler, Hoskin & Harcourt LLP in New York and Toronto, with a team comprised of Rob Lando and Tal Sagorsky (corporate and securities) and Monica Biringer and Julie Colden (tax); and in the U.S., by Scott Freeman, Gilberto Sanclemente and Robert Innocentin (corporate and securities) and Paul Wysocki and Renée Liu (tax) of Sidley Austin Brown & Wood LLP in New York.
The initial purchasers were represented in Canada, by Torys LLP with a team that included Glen Johnson, Brian Davis and Jennifer Soward (corporate and securities) and Ron Nobrega and Tim Rorabeck (tax); and in the U.S., by Marc Jaffe, Carrie Girgenti and Jeremiah Sheehan of Latham & Watkins in New York.
Magna Entertainment was represented in-house by Gary Cohn, vice-president, special projects; Ed Hannah, executive vice-president and general counsel; Richard Crofts, corporate counsel; and Joe Milstone, associate general counsel. In Canada, Magna Entertainment was represented by Osler, Hoskin & Harcourt LLP in New York and Toronto, with a team comprised of Rob Lando and Tal Sagorsky (corporate and securities) and Monica Biringer and Julie Colden (tax); and in the U.S., by Scott Freeman, Gilberto Sanclemente and Robert Innocentin (corporate and securities) and Paul Wysocki and Renée Liu (tax) of Sidley Austin Brown & Wood LLP in New York.
The initial purchasers were represented in Canada, by Torys LLP with a team that included Glen Johnson, Brian Davis and Jennifer Soward (corporate and securities) and Ron Nobrega and Tim Rorabeck (tax); and in the U.S., by Marc Jaffe, Carrie Girgenti and Jeremiah Sheehan of Latham & Watkins in New York.
