Stikeman Elliott
 
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Corporate Finance & Securities
Corporate Finance & Securities

Rankings | Experience 

Our Securities Group has an impressive track record in some of the most high-profile transactions in the Canadian market, including major privatizations by public offering, multi-jurisdictional offerings, initial public offerings, secondary offerings and new issuances of debt and equity. Our in-depth experience includes assisting our clients to develop new offering techniques and utilizing a wide variety of financing instruments.

The Group's expertise is also diverse and broadly based. The variety of types of mandates in which the Group is involved is an inherent positive in response to inevitable market cyclicality. We are involved in the full range of offerings in both types of securities and structure.

Debt Capital Markets

Our Securities Group is frequently engaged in a wide variety of debt issuances, including public issuances of debt, debt programmes and offerings under Canadian shelf prospectuses (including both principal protected and non-principal protected debt) and significant private placements of Canadian and internationally-denominated debt products. In the area of infrastructure, we have been on the cutting edge in Canada with respect to the offering of debt to finance significant projects, including acting on the first bank/amortizing bond deal in Canada and the first monoline-insured bond deal in Canada. We specialize in ensuring novel debt issues satisfy regulatory scrutiny quickly and efficiently. In all, our firm and members of our proposed team have been at the forefront of successful novel debt securities offerings.

Cross-Border Expertise

Stikeman Elliott has decades of on-the-ground experience in New York, London, Sydney and the Asia-Pacific region and is especially well known for its work in complex domestic and cross-border transactions. On the international front, our corporate finance practice combines in-depth legal expertise in sophisticated international financings with an unmatched Canadian presence in major international centres. We have frequently advised issuers and underwriters on offerings by Canadian companies in the U.S. carried out under the multi-jurisdictional disclosure system (MJDS). Employing the expertise of our London office, we have also been at the vanguard of the global bond markets. Out of our Sydney office, we are frequently involved in cross-border offerings involving markets in Canada, Australia and the Asia-Pacific, as well as many private placements undertaken by Asian companies into Canada.

Regulatory Expertise

We have cultivated tremendous relationships with securities regulators. Among our lawyers, we count a former Chair of Canada's leading securities regulator, the Ontario Securities Commission (OSC), a former Special Counsel to the OSC, as well as current and former members of the OSC's Securities Advisory Committee. Most recently, we advised the Government of Canada's Expert Panel on Securities Regulation in connection with an initiative to modernize and centralize Canada's securities regulatory regime.

Value-Added Client Resources

As part of our effort to remain at the forefront of client service, we have developed a securities, corporate finance and M&A focused blog called CanadianSecuritiesLaw.com, the first major site of its kind to be launched by any of the leading national law firms in Canada. The blog provides real-time information on Canadian regulatory and market development, in addition to cross-posting our market-leading Securities Update commentary on legal issues affecting corporate counsel and business professionals. The site is fully searchable with extensive archived materials, indexed by topic, and allows users to subscribe for immediate updates via email or RSS feed.

The blog is publicly available at www.CanadianSecuritiesLaw.com.


Recognition for Our Work

  • 2016 Canadian Law Firm of the Year (IFLR Americas).

  • Ranked Tier 1 in Capital Markets by IFLR1000, with more lawyers ranked than any other firm in Best Lawyers and Lexpert.

  • #1 by value and volume for underwriters on Canadian equity offerings (Financial Post 2015).

  • #1 by volume for issuers and underwriters on Canadian Equity IPO (Bloomberg 2015).

  • #1 by value for underwriters on Global Equity IPO (Bloomberg 2015).

  • #1 Canadian firm by deal count for issuers on global equity, equity-linked, and rights offerings (Bloomberg 2015).

  • #1 by value for underwriters on Canadian debt and equity offerings (Financial Post 2015).

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Representative Experience

We have acted in principal roles in connection with the following transactions:

  • Shopify in its C$100M inter-listed (TSX & NYSE) dual class initial public offering.

  • Dundee Capital in launching the first-ever Canadian Special Purpose Acquisition Corporation (SPAC) initial public offering.

  • Air Canada in its private offering of three tranches of enhanced equipment trust certificates for a combined aggregate face amount of US$537M and a weighted average interest rate of 4.044%.

  • Air Canada in its private offering of three tranches of enhanced equipment trust certificates for a combined aggregate face amount of US$1.03B and a weighted average interest rate of 3.810%.

  • Citi Private Bank Sports Finance & Advisory in connection with a US$1.4B league-wide credit facility to the National Hockey League.

  • Fortis Inc. through its direct wholly owned subsidiary FortisUS Holdings Nova Scotia Limited, in its C$1.8B offering of convertible debentures.

  • Seven Generations Energy Ltd. in its C$931.5M initial public offering.

  • Royal Bank of Canada in its C$500M offering of non-viability contingent capital preferred shares, the first Basel III compliant issue in Canada. (counsel to the underwriters)

  • Permira Funds in the US$625M offering by way of private placement concurrent to the acquisition of Atrium Innovations Inc. along with Caisse de dépôt et placement du Québec and Fonds de solidarité F.T.Q.

  • Canadian National Railway Company in its completing of a US$600M notes offering, comprising US$250M principal amount of floating rate notes due in 2017 and US$350M principal amount of 2.95% notes due in 2024.

  • Bell Canada in its public offering of two series of MTN Debentures in the aggregate principal amount of C$1.25B pursuant to Bell Canada's MTN program.

  • The dealer group, as Canadian counsel, in the issuance by Harvest Operations Corp. of US$630M 2.125% senior notes due 2018 and unconditionally guaranteed by Korea National Oil Corporation.

  • A syndicate of agents in connection with Talisman Energy Inc.'s renewal of its aggregate C$1B medium term note shelf program.  

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practices  
Specialty Areas
Related Practices
Contacts
Key Contacts

Montréal: 
Marc B. Barbeau 
Robert Carelli
Alix d'Anglejan-Chatillon
Benoît C. Dubord
Sidney M. Horn
Jean Marc Huot
Warren M. Katz
Sophie Lamonde
Pierre-Yves Leduc
John W. Leopold 
David Massé
Steeve Robitaille
André J. Roy
Maxime Turcotte

Toronto:
Joel E. Binder
William J. Braithwaite
John Ciardullo
Ivan T. Grbesic
Philip J. Henderson
Martin Langlois
Amanda Linett 
D'Arcy Nordick
Brian M. Pukier
Simon A. Romano
Jeffrey M. Singer
Mihkel E. Voore
Edward J. Waitzer
David Weinberger 

Calgary:
Frederick Erickson
Christopher W. Nixon
Craig A. Story

Vancouver:
John F. Anderson
Jonathan Drance
Quentin Markin
Neville McClure
Noordin Nanji
John E. Stark
Michael G. Urbani

New York:
Kenneth G. Ottenbreit

London:
Sherry L. Roth

Sydney:
Brian G. Hansen
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