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Client Work

GENIVAR Income Fund closes $100 million equity financing

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Confidential Client

On October 16, 2009, GENIVAR Income Fund (TSX:GNV.UN) announced the closing of its previously announced public offering of 3,809,500 units of the Fund for gross proceeds of approximately $100 million. Net proceeds of the offering will be used to repay the bank advances under GENIVAR's credit facilities and for working capital and general corporate purposes. The units were offered through an underwriting syndicate led by BMO Capital Markets and CIBC World Markets Inc., and also including National Bank Financial Inc., Raymond James Ltd., TD Securities Inc., Canaccord Capital Corporation, Desjardins Securities Inc., Laurentian Bank Securities Inc., Macquarie Capital Markets Canada Ltd., Blackmont Capital Inc., Cormark Securities Inc. and Dundee Securities Corporation. The underwriters were advised in this transaction by Fasken Martineau with a team that included Gilles Leclerc, Gabriel Castiglio, Jean Michel Lapierre and Rebecca McLeod (corporate/securities), and Gilles Carli (tax).



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