Timothy  Hughes

Timothy Hughes

Partner, Tax

Key Contact: Derivatives

Contact Information

thughes@osler.com

tel: 416.862.6573

Office

Toronto

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 Co-chair of the Firm’s UK Desk.

  • 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

  • RBC Capital Markets

    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

  • Tantalus Systems Holding

    Tantalus Systems Holding Inc. in its Qualifying Transaction with RiseTech Capital Corp., concurrent $10 million financing and graduation to the Toronto Stock Exchange

  • Thinkific Labs Inc.

    The Underwriters in Thinkific’s $184 million IPO

  • Laurentian Bank

    Laurentian Bank in its inaugural LRCN offering

  • goeasy Ltd.

    The Underwriters in goeasy’s $172.5 million subscription receipt offering in connection with its $320 million proposed acquisition of LendCare

  • RBC Capital Markets, LLC

    The syndicate of underwriters in the US$1.75 billion bond offering by the Province of British Columbia

  • AbCellera

    Canadian Counsel to the Underwriters in connection with AbCellera’s IPO and Listing on the NASDAQ

  • Royal Bank of Canada

    Royal Bank of Canada in its Additional Tier 1 offering of Limited Recourse Capital Notes

  • Zenabis Global Inc.

    Zenabis Global Inc. in its completed public offering of units

  • Telus

    The Underwriters in Telus’ $500 million offering

  • National Bank of Canada

    National Bank of Canada in its Additional Tier 1 offering of Limited Recourse Capital Notes

  • Greater Toronto Airports Authority

    Greater Toronto Airports Authority in its successful 2020 $6.9 billion bondholder consent solicitation

  • Royal Bank of Canada

    Royal Bank of Canada in its inaugural Additional Tier 1 offering of $1.75 billion

  • Fusion Pharmaceuticals

    Fusion Pharmaceuticals in its $212.5 million IPO

  • Zenabis Global Inc.

    Zenabis Global Inc. in its completed public offering of units

  • Teranet Holdings LP

    The underwriters in Teranet Holdings’ $550 million debt offering

  • Great Canadian Gaming

    The Syndicate of Underwriters in Great Canadian Gaming’s $189 million offering of senior unsecured debentures

  • Telus

    The Underwriters in Telus’ $1.5 billion equity raise

  • Chorus Aviation Inc.

    Chorus Aviation in its $75 million bought deal offering of 5.75% Senior Unsecured Debentures

    • 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

  • The Canadian Legal Lexpert Directory: Recognized in Derivative Instruments; Investment Funds & Asset Management - Investment Funds – Tax
  • 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