Timothy Hughes

Timothy Hughes

Partner, Tax

Key Contact: Capital Markets

Key Contact: Derivatives

Contact Information

thughes@osler.com

tel: 416.862.6573

Office

Toronto

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Areas of Expertise

Bar Admission

Ontario, 2000

Education

  • Oxford University, B.C.L.
  • Dalhousie University, LL.B.
  • Queen’s University, B.Mus.

Language(s)

English

Timothy leads the capital markets tax practice at Osler. He advises on a wide range of corporate finance transactions, from traditional IPOs and private placements to innovative financial instruments, including hybrid securities, Basel III compliant capital, securitizations, securities loans, and derivatives. He acts for Canadian and foreign financial institutions and other capital markets participants, including global investment banks, dealers, exchanges and clearing houses. He provides advice to domestic and offshore hedge funds, pension plans, ETFs, and mutual funds.

Timothy sits on the Osler Partnership Board and is Chair of the Firm’s UK Desk.

  • First Capital REIT

    The agents in connection with First Capital REIT’s offering of $300 million Series B unsecured debentures

  • Royal Bank of Canada

    Royal Bank of Canada in its $750 million Institutional Preferred Shares Series BU offering

  • CIBC World Markets

    The syndicate of underwriters in the US$2.25 billion bond offering by the Province of British Columbia

  • Emera Incorporated

    Emera Incorporated in its $500 million senior unsecured note financing

  • goeasy Ltd.

    goeasy Ltd. in its closing of an offering of US$550 million senior unsecured notes

  • goeasy Ltd.

    The Underwriters in goeasy’s $58 million bought deal offering of common shares

  • Mind Medicine

    Mind Medicine in its US$30 million public offering

  • Lion One Metals Limited

    Lion One Metals Limited in its bought deal offering with Eight Capital and Canaccord Genuity Corp.

  • TELUS Corporation

    The Syndicate of agents in TELUS Corporation’s $2 billion three-tranche note offering

  • Heritage Mining Ltd.

    Heritage Mining in its initial public offering and listing on the Canadian Securities Exchange

  • Mind Medicine

    MindMed in its US$100 million At-the-Market Program

  • TELUS Corporation

    The Underwriters in connection with TELUS Corporation’s US$900 million Sustainability-Linked Bond offering

  • Enbridge Inc.

    The Underwriters in Enbridge Inc.’s US$1.5 billion offering of notes

  • Royal Bank of Canada

    Royal Bank of Canada in its $750 million inaugural institutional Preferred Shares Series BT offering

  • Q4 Inc.

    Q4 Inc. in its IPO on the TSX

  • Greater Toronto Airports Authority

    Greater Toronto Airports Authority in its $400 million offering

  • Enbridge Inc.

    The Underwriters in Enbridge Inc.’s US$1.5 billion public offering

  • Nissan Canada

    The syndicate of agents in Nissan Canada’s $500 million notes offering

  • RBC Capital Markets, LLC

    The syndicate of underwriters in the US$2.50 billion bond offering by the Province of British Columbia

  • TELUS Corporation

    The Syndicate of agents in TELUS Corporation’s $750 million inaugural Sustainability-Linked Bond offering

  • Dream Industrial REIT

    Dream Industrial REIT in its $850 million European logistics portfolio acquisition and associated financing

  • Dream Industrial REIT

    Dream Industrial REIT in its $800 million debenture offering and inaugural green bond issuance

  • Hardwoods Distribution Inc.

    Hardwoods Distribution Inc. in its $100.6 million offering

  • Tantalus Systems

    Tantalus Systems in its inaugural $50 million Shelf Prospectus and related Public Offering

  • Tantalus Systems Holding

    Tantalus Systems Holding Inc. in its $90 million Qualifying Transaction with RiseTech Capital Corp., concurrent financing and graduation to the Toronto Stock Exchange

    • Advising Canadian and non-Canadian banks and other corporations in negotiating derivative arrangements (including within the ISDA, GMRA and GMSLA frameworks)
    • Advising Canadian public companies on balance sheet and other hedging arrangements
    • Advising Canadian tax-exempt investors on the use of derivatives as a substitute for direct investment
    • Advising Canadian investment funds and other market participants regarding compliance with tax rules concerning derivative forward agreements, synthetic equity arrangements and synthetic disposition arrangements
    • Advising Canadian and international intermediaries on the tax treatment of securities lending transactions with Canadian counterparties and over Canadian securities
    • Establishing and restructuring securitization vehicles
  • Find More

  • ​Best Lawyers in Canada: Recognized in Tax Law
  • Legal 500: Recognized in Tax
  • Financial Times: Highly Commended by the Financial Times North American Innovative Lawyers Awards for structuring rating agency hybrid notes issued by Emera Inc. as part of US$ 6.2 billion in concurrent offerings

  • Ontario Bar Association
  • Canadian Tax Foundation
  • International Fiscal Association