Capital Markets

Overview

Osler is consistently recognized as one of Canada’s leading capital markets firms and has earned a Band 1 ranking in Chambers Canada, one of the world’s leading legal publications. Our clients include major Canadian corporations, well-known multinationals, entrepreneurial and growth oriented businesses and Canadian and global investment banks engaged in capital markets activities in Canada, the United States and internationally.

We advise on private placements, public offerings and alternative listing methods such as reverse takeovers and CPC transactions. We have extensive experience with financing methods such as initial public offerings, conventional bought deals, overnight marketed offerings, multijurisdictional disclosure (MJDS) offerings, discrete shelf prospectus offerings of equity and debt and medium-term note (MTN) programs. Our debt practice covers a broad spectrum of products that includes investment-grade debt, commercial paper, high-yield debt, “Maple” bonds, securitized and asset-backed debt, covered bond programs, convertible debt and hybrid and novel products. We are also known for our expertise in regulatory matters relating to corporate finance transactions, including advising on trading, registration, settlement and compliance matters.

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Related Expertise

Desmond Lee

Partner, Corporate
Toronto

Michael Innes

Partner, Corporate
Toronto

Rob Lando

Partner, Corporate
New York
  • Essar Steel Algoma

    Algoma Steel Inc. and certain senior secured term lenders in Canada in Algoma’s acquisition of substantially all the assets of Essar Steel Algoma in connection to a restructuring under the CCAA

  • Abacus Health Products

    Abacus Health Products in its going public transaction by way of a reverse takeover, US$15 million concurrent financing and listing on the Canadian Securities Exchange

  • SmartCentres REIT

    SmartCentres in its $230 million bought deal equity offering

  • Concordia International Corp.

    Osler advises the Secured Debtholder Committee of Concordia International Corp. in connection with US$3.7 billion recapitalization transaction

  • Delphi Energy Corp.

    Delphi Energy Corp. in its $15 million senior secured notes financing

  • Tilray

    The Initial Purchasers in connection with Tilray Inc.’s US$475 million 5% convertible notes offering

  • First Nations Finance Authority

    First Nations Finance Authority in its $138 million offering of Senior Secured Bonds

  • goeasy Ltd.

    The underwriters in the $46.46 million bought deal offering of goeasy Ltd. common shares by way of a prospectus supplement filed on October 1, 2018

  • PRO Real Estate Investment Trust

    PRO Real Estate Investment Trust in its $40.3 million equity offering including full exercise of over-allotment option

  • Stella-Jones Inc.

    The Underwriters in connection with Stella-Jones Inc.’s secondary public offering and private placement by Stella Jones International S.A.

  • MAV Beauty Brands Inc.

    The Underwriters in connection with MAV Beauty Brands Inc.’s $242 million IPO

  • Caterpillar Financial Services Limited

    The dealers in an offering of medium term notes by Caterpillar Financial Services Limited

  • Aspenleaf Energy Limited

    Aspenleaf Energy Limited in its acquisition of NEP Canada ULC

  • TELUS Corp.

    The Underwriters in TELUS Corporation's offering of 4.6% notes for US$750 million

  • The Stars Group Inc.

    The Stars Group Inc. in its US$950 million public offering of common shares

  • Hydro One Inc.

    Hydro One Inc. in its $1.4 billion offering of Medium Term Notes

  • Canopy Growth Corporation

    Advising the Initial Purchasers in connection with Canopy Growth’s $600 million convertible debenture offering.

  • Killam Apartment REIT

    The Underwriters in Killam Apartment REIT’s $57.5 Million public offering

  • Canada Goose Holdings Inc.

    The Underwriters in the US$630 million secondary offering of Canada Goose Holdings Inc.

  • Asterix Inc.

    Asterix Inc. in connection with the $188 million preferred shares financing by Investissement Québec and a refinancing of existing $300 million credit facilities.

  • Underwriters in connection with Tilray Inc.'s IPO

    The Underwriters in connection with the cross-border IPO and NASDAQ listing of Tilray Inc.

  • TransAlta Renewables Inc.

    The underwriters in the $150 million bought deal offering of TransAlta Renewables Inc. common shares by way of a prospectus supplement filed on June 15, 2018.

  • Sphinx Resources Ltd.

    Sphinx Resources Ltd. in its Private Placement for approximately $260,000

  • Acasti Pharma Inc.

    Acasti Pharma Inc. in connection with its underwritten public offering of units for aggregate gross proceeds of $11.5 million

  • Ceridian HCM Holding Inc.

    The Underwriters in connection with Ceridian HCM Holding Inc.'s IPO

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Directories

Chambers

  • Chambers Canada: Canada’s Leading Lawyers for Business, 2017-2019: Band 1, Capital Markets.
    • "They are very proactive and their focus on solutions is good. They distinguish themselves in their ability to come up with solutions and advise in the broader context of business."
    • "They're very responsive; they are always on call and are attentive to our needs. I feel very well represented and very well advised."
  • Chambers Canada: Canada's Leading Business Lawyers, 2016-2019: Band 1, Corporate/Commercial: The Elite – Ontario.
    • "They are as good as any firm in Canada. They know our industry and business, give thorough and fixed advice and are very proactive. The quality of the lawyers is consistent, with a single point of contact."
    • "They've been extremely attentive – they do their job well and they do it efficiently."
  • Chambers Canada: Canada's Leading Business Lawyers, 2016-2019: Corporate/Commercial: The Elite – Alberta.
    • "One of the best firms to use for anything with a high degree of complexity and for matters that span multiple practice areas."
  • Chambers Canada: Canada's Leading Business Lawyers, 2016-2019: Corporate/Commercial: The Elite – Québec.
    • "They have a deep bench, which is invaluable. They are incredibly responsive and helpful in everything that they do."
    • "They were very nimble and they put together a very good team."
  • Chambers Global: The World's Leading Business Lawyers, 2018: Band 1, Capital Markets.

Lexpert

  • The Canadian Legal Lexpert Directory, 2010-2018: Toronto, Ontario, Most Frequently Recommended, Corporate Finance & Securities.
  • The Canadian Legal Lexpert Directory, 2010-2018: Ottawa, Ontario, Most Frequently Recommended, Corporate Finance & Securities.
  • The Canadian Legal Lexpert Directory, 2010-2018: Calgary, Alberta, Consistently Recommended, Corporate Finance & Securities.
  • The Canadian Legal Lexpert Directory, 2010-2018, Montreal, Quebec, Consistently Recommended, Corporate Finance & Securities.
  • The Canadian Legal Lexpert Directory, 2017-2018, Toronto, Ontario, Most Frequently Recommended, Corporate Commercial Law.
  • The Canadian Legal Lexpert Directory, 2017-2018: Ottawa, Ontario, Most Frequently Recommended, Corporate Commercial Law.
  • The Canadian Legal Lexpert Directory, 2017-2018: Calgary, Alberta, Consistently Recommended, Corporate Commercial Law.
  • The Canadian Legal Lexpert Directory, 2017-2018: Montreal, Quebec, Consistently Recommended, Corporate Commercial Law.
  • The Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada, 2015: Osler’s lawyers recognized in the area of Corporate Finance & Securities.

IFLR

  • IFLR Americas Awards, 2018: Osler named "Capital Markets firm of the year".
  • IFLR 1000: The Guide to the World’s Leading Financial Law Firms, 2009-2019: Tier 1, Capital Markets.

Legal 500

  • The Legal 500, 2015-2019: Tier 1, Capital Markets; Corporate Law.

Who’s Who Legal

  • Who’s Who Legal, 2015: Corporate Law.
  • Who’s Who Legal, 2015: Capital Markets.

Best Lawyers

  • The Best Lawyers in Canada, 2006-2018: Corporate Law and Securities Law.

Expert Guides

  • The Legal Media Group’s Expert Guides, 2018: Osler lawyers recognized as leaders in Capital Markets.

 

League Table Rankings

  • Financial Post, 2017: Osler ranked #1 as Canadian legal counsel to both issuers and underwriters for combined equity and debt offerings by value. 
  • Bloomberg, 2017: Osler ranked #1 as Canadian counsel to the issuer for equity offerings by deal value.
  • Bloomberg, 2017: Osler ranked #1 as Canadian counsel to the issuer for IPOs by deal value.
  • Bloomberg, 2017: Osler ranked #2 as Canadian counsel to the underwriters for corporate bonds by deal value.
  • Thomson Reuters, 2017: Osler ranked #2 for Canadian Debt Offerings as issuer legal advisor by deal count.
  • Thomson Reuters, 2017: Osler ranked #2 for Canadian Debt Offerings as underwriter legal advisor by deal count.
  • Financial Post, 2016: Osler ranked #1 as Canadian legal advisor to the issuer for debt and equities combined by deal value and #2 by deal count.
  • Financial Post, 2016: Osler ranked #1 as Canadian legal advisor to the issuer for debt offerings by deal value.
  • Financial Post, 2015: Osler ranked #1 as Canadian legal advisor to the issuer for debt and equities combined by deal count, and #2 by deal value.
  • Financial Post, 2015: Osler ranked #1 as Canadian legal advisor to the issuer for equity offerings by deal value.
  • Financial Post, 2015: Osler ranked #1 as Canadian legal advisor to the issuer for debt offerings by deal count, and #2 by deal value.
  • Financial Post, 2015: Osler ranked #2 as Canadian legal advisor to the underwriters for debt offerings by deal value.
  • Bloomberg, 2015: Osler ranked #1 for Canadian Equity Offerings as issuer legal advisor by value.
  • Bloomberg, 2015: Osler ranked #3 for Canadian Equity Offerings as manager legal advisor by value.
  • Bloomberg, 2015: Osler ranked #2 for Canadian Debt Offerings as issuer legal advisor by value and by deal count.
  • Bloomberg, 2015: Osler ranked #2 for Canadian Debt Offerings as manager legal advisor by value and by deal count.
  • Thomson Reuters, 2015: Osler ranked #1 for Canadian Equity Offerings as issuer legal advisor by value.
  • Thomson Reuters, 2015: Osler ranked #2 for Canadian Equity Offerings as manager legal advisor by value.
  • Thomson Reuters, 2015: Osler ranked #1 for Canadian Debt Offerings as issuer legal advisor by deal count.
  • Thomson Reuters, 2015: Osler ranked #1 for Canadian Debt Offerings as manager legal advisor by value.
  • Financial Post, 2014: Osler ranked #2 as Canadian legal advisor to the issuer for debt and equities combined by deal count.
  •  Bloomberg, 2014: Osler ranked #2 for Canadian Debt Offerings as manager legal advisor by deal value, and #3 by deal count.
  • Thomson Reuters, 2014: Osler ranked #1 for Canadian Debt Offerings as issuer legal advisor by deal count.
  • Thomson Reuters, 2014: Osler ranked #2 for Canadian Debt Offerings as manager legal advisor by deal count, and #3 by deal value.
  • Financial Post, 2013: Osler ranked #1 as Canadian legal advisor to the underwriters for debt and equities combined by deal value.
  • Financial Post, 2013: Osler ranked #2 as Canadian legal advisor to the issuer for debt and equities combined by deal value.
  • Bloomberg, 2013: Osler ranked #2 for Canadian Equity Offerings as issuer legal advisor by deal value.
  • Bloomberg, 2013: Osler ranked #3 for Canadian Equity Offerings as manager legal advisor by deal value.
  • Bloomberg, 2013: Osler ranked #2 for Canadian Debt Offerings as manager legal advisor by deal value and deal count.
  • Thomson Reuters, 2013: Osler ranked #1 for Canadian Equity Offerings as issuer legal advisor by deal value.
  • Thomson Reuters, 2013: Osler ranked #3 for Canadian Equity Offerings as manager legal advisor by deal value.