On April 29, 2003, Scotia Capital Income Trust Index (SCITI trust), completed an initial public offering of 30 million units at $10 per unit, for gross proceeds of $300 million, the maximum amount offered under the prospectus.
The offering was made through a syndicate of agents led by Scotia Capital Inc., and including National Bank Financial Inc., TD Securities Inc., Dundee Securities Corporation, HSBC Securities (Canada) Inc., Canaccord Capital Corporation and Raymond James Ltd. The net proceeds of the offering, together with an amount advanced under a loan facility, will be invested in a portfolio of Canadian income funds that reflect the make-up and weighting of the SCITI trust as adjusted to exclude any income fund having a float capitalization of less than $200 million.
Stikeman Elliott LLP acted for the SCITI trust and the agents, with a team that included Joel Binder, Maurice Swan and Steven Portelli (securities/corporate), Mark McElheran (banking) and John Lorito (tax). John Torrey of Fasken Martineau DuMoulin LLP acted on behalf of The Bank of Nova Scotia in connection with the loan facility.
The offering was made through a syndicate of agents led by Scotia Capital Inc., and including National Bank Financial Inc., TD Securities Inc., Dundee Securities Corporation, HSBC Securities (Canada) Inc., Canaccord Capital Corporation and Raymond James Ltd. The net proceeds of the offering, together with an amount advanced under a loan facility, will be invested in a portfolio of Canadian income funds that reflect the make-up and weighting of the SCITI trust as adjusted to exclude any income fund having a float capitalization of less than $200 million.
Stikeman Elliott LLP acted for the SCITI trust and the agents, with a team that included Joel Binder, Maurice Swan and Steven Portelli (securities/corporate), Mark McElheran (banking) and John Lorito (tax). John Torrey of Fasken Martineau DuMoulin LLP acted on behalf of The Bank of Nova Scotia in connection with the loan facility.
