On September 30, 2005, Morneau Sobeco Income Fund completed its initial public offering of 19,979,284 trust units for gross proceeds of approximately $200 million. Morneau Sobeco Income Fund used the proceeds of the IPO to acquire an indirect 72.7 per cent interest in Morneau Sobeco Limited Partnership. Morneau Sobeco is the largest Canadian-owned pension and benefits consulting and outsourcing firm, providing services to organizations across Canada and in the US.
The underwriting syndicate for the offering was co-led by BMO Nesbitt Burns Inc. and National Bank Financial Inc., and included CIBC World Markets Inc., TD Securities Inc., RBC Dominion Securities Inc. and Scotia Capital Inc.
Morneau Sobeco was represented by Goodmans LLP with a team led by Tim Heeney that included Steve Cohen, Caroline Cook and Simon McGrath (corporate), Carrie Smit and Yi-Wen Hsu (tax) and Jay Feldman and Rosella Santilli (banking).
The underwriting syndicate was represented by Torys LLP with a team led by Kevin Morris that included Rima Ramchandani and Alfred Avanessy (corporate) and Corrado Cardarelli and Shiyamala Devan-Ramdas (tax).
Concurrent with the IPO, Morneau Sobeco entered into new credit facilities with the Toronto-Dominion Bank and National Bank of Canada. The banks were represented by McMillan Binch Mendelsohn LLP with a team that included Richard Higa and Cerise Latibeaudiere.
The underwriting syndicate for the offering was co-led by BMO Nesbitt Burns Inc. and National Bank Financial Inc., and included CIBC World Markets Inc., TD Securities Inc., RBC Dominion Securities Inc. and Scotia Capital Inc.
Morneau Sobeco was represented by Goodmans LLP with a team led by Tim Heeney that included Steve Cohen, Caroline Cook and Simon McGrath (corporate), Carrie Smit and Yi-Wen Hsu (tax) and Jay Feldman and Rosella Santilli (banking).
The underwriting syndicate was represented by Torys LLP with a team led by Kevin Morris that included Rima Ramchandani and Alfred Avanessy (corporate) and Corrado Cardarelli and Shiyamala Devan-Ramdas (tax).
Concurrent with the IPO, Morneau Sobeco entered into new credit facilities with the Toronto-Dominion Bank and National Bank of Canada. The banks were represented by McMillan Binch Mendelsohn LLP with a team that included Richard Higa and Cerise Latibeaudiere.
