On October 9, 2003, Ontario Municipal Employees Retirement System (OMERS) completed its first transaction under the new program by accessing the Canadian short term money markets with an issue of $300 million of commercial paper. The debt was issued by a wholly owned subsidiary, OMERS Realty Corporation, by way of short term promissory notes, guaranteed by OMERS. The notes were offered on a private placement basis to certain qualified investors. The transaction was co-led by BMO Nesbitt Burns, CIBC World Markets Inc. and RBC Dominion Securities Inc. OMERS and OMERS Realty were represented by McCarthy Tétrault LLP, with a team that included Barry Ryan and Justin Lapedus.
