Brendan D. Reay
Partner | Toronto
Toronto: 416-863-5273

Brendan's practice involves a wide range of corporate, commercial and securities work, including public and private debt and equity financings, initial public offerings, mergers and acquisitions, reorganizations, and securities regulatory compliance. He has experience in many different types of corporate finance transactions, including offerings of common shares, preferred shares, income trust units, debt securities, convertible debentures and subscription receipts.

Brendan has acted as counsel to issuers and underwriters in significant transactions in the technology, telecommunications, mining, electrical power, steel, manufacturing, entertainment and leisure, and financial services sectors. In recent years, he has acted on many Canada/U.S. cross-border financings and transactions involving income-generating securities.

From 1999 to 2001, Brendan was corporate counsel for a publicly listed Canadian software firm.

SELECT EXPERIENCE

Representative transactions include acting for:

Corporate Finance

  • CI Financial Corp. on its shelf prospectus and issuance of $450 million of 2.645% Debentures due 2020
  • The underwriters, led by RBC Capital Markets and Scotia Capital Inc., on the $1.8 billion initial public offering of common shares of Hydro One Limited
  • Pattern Energy Group Inc. and a selling shareholder on the US$350 million initial public offering of Class A common shares of Pattern and four follow-on offerings of Class A common shares and convertible notes in the United States and Canada raising proceeds of over US$1.2-billion
  • TransCanada PipeLines Limited and TransCanada Trust on the US$750-million offering in the United States of hybrid notes by TransCanada Trust
  • Granite Real Estate Investment Trust on the C$250-million offering of senior unsecured debentures by Granite REIT Holdings Limited Partnership
  • The underwriters on the Canada/U.S. cross-border public offerings of US$130-million of convertible unsecured subordinated debentures and US$68.5-million of common shares by Atlantic Power Corporation
  • A syndicate of investment dealers in connection with the renewal of a C$3-billion shelf prospectus for the offering of medium term notes by Hydro One Inc., and numerous issuances of notes
  • Bell Aliant Preferred Equity Inc. and its affiliates on two issues of cumulative five-year rate reset preferred shares raising gross proceeds of over C$400-million

Mergers and Acquisitions/Corporate Reorganization

  • Bell Aliant Inc. and Bell Aliant Preferred Equity Inc., and the special committee of the board of directors of each, on BCE Inc.'s C$4 billion privatization of Bell Aliant, and Bell Aliant Regional Communications, Limited Partnership on its C$2.3 billion exchange of medium term notes
  • Granite Real Estate Inc. and Granite Real Estate Investment Trust in connection with the conversion of Granite's corporate structure from a corporation to a stapled unit real estate investment trust structure
  • Bell Aliant Regional Communications Income Fund and its affiliates in connection with the conversion of the fund from an income trust to a corporation, Bell Aliant Inc.
  • CI Financial Income Fund on its conversion from an income trust to a corporation, CI Financial Corp.
  • DataMirror Corporation in connection with its acquisition by IBM Corporation by plan of arrangement

Corporate Advisory

  • A significant Canadian equipment finance company in the establishment, acquisition and restructuring of securitized equipment lease and loan portfolios
  • Genworth MI Canada Inc. in connection with its "Dutch auction" substantial issuer bid to repurchase up to C$325-million of its common shares
  • Public company clients DataMirror Corporation and Envoy Communications Group Inc. in connection with substantial issuer bid transactions
AWARDS & RECOGNITION

Brendan has been recognized in the following publications:

  • The Legal 500 Canada 2017 (recommended, Capital Markets)
  • Canadian Legal Lexpert Directory 2016 (repeatedly recommended, Corporate Finance and Securities)
PUBLICATIONS
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Co-author: The Commercial Laws of Canada
Digest of the Commercial Laws of the World, Vol. 2, Ch. 8, pp. 1-194, Thomson Reuters, February 2017.
Blakes Bulletin on Capital Markets, January 20, 2016.
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