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Valener completes cumulative rate reset preferred share issue of US$100 million

Fasken
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Client

Confidential Client

Valener Inc. completed an issue of 4,000,000 cumulative rate reset preferred Series A shares, for gross proceeds of $100 million. The shares were issued in each of the provinces and territories of Canada by way of a short form prospectus dated May 30, 2012. This issuance was co-led by BMO Nesbitt Burns Inc. and TD Securities Inc. The syndicate of underwriters also included Desjardins Securities Inc., National Bank Financial Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia capital Inc., and Laurentian Bank Securities Inc. A Fasken Martineau team represented the underwriters in the transaction and was composed of Gilles Leclerc (securities), Jean-Pierre Chamberland (securities), Christian Jacques (securities) and Tom Copeland (taxation).

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