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Client Work

Colabor completes US$50 million bought deal offering of convertible unsecured subordinated debentures

Fasken
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Client

National Bank Financial Inc.

On April 27, 2010, Colabor Group Inc. (TSX:GCL) completed an offering of 5.70% convertible unsecured subordinated debentures for total gross proceeds of $50 million. The Debentures mature on April 30, 2017 and bear interest at a rate of 5.70% per annum payable semi-annually on April 30 and October 31 each year, commencing on October 31, 2010. The Debentures are convertible at the holder's option into common shares of the Corporation at a conversion price of $16.85 per Common Share, and may be redeemed by the Corporation in certain circumstances after April 30, 2015. The offering was underwritten on a bought deal basis by a syndicate of underwriters led by National Bank Financial Inc. and which included Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc. and Laurentian Bank Securities Inc. The Debentures have been approved for listing on the TSX under the symbol "GCL.DB.A". The underwriters were advised by Fasken Martineau with a team that included Jean-Pierre Chamberland, Gabriel Castiglio and Caitlin Rose (securities) as well as Gilles Carli and Tom Copeland (tax).

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