Brendan D. Reay Partner | Toronto

Representative transactions include acting for:

Corporate Finance

• CI Financial Corp. on the establishment and renewals of its C$1.5-billion base shelf prospectus and five public offerings of debentures aggregating C$1.625-billion and the establishment of its US$2-billion cross-border base shelf prospectus and three public offerings of notes aggregating over US$1.8-billion

• Definity Financial Corporation on its C$1.6-billion initial public offering completed in connection with the demutualization of Economical Mutual Insurance Company

• Rock Tech Lithium Inc. on its public offering of approximately C$40-million of units, each consisting of one common share and one-half common share purchase warrant, and its private placement of approximately US$41-million of units, each consisting of one common share and one common share purchase warrant

• Intact Financial Corporation on its offerings of C$4.45-billion of subscription receipts and C$600-billion of medium term notes in connection with its C$12.3-billion acquisition, together with Tryg A/S, of RSA Insurance Group Plc

• Intact Financial Corporation on its offering of C$300-million of limited recourse capital notes

• Granite Real Estate Investment Trust and Granite REIT Holdings Limited Partnership on multiple public offerings of stapled units and senior unsecured debentures

• The underwriters, led by RBC Capital Markets and Scotia Capital Inc., on the C$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 seven follow-on offerings of Class A common shares, convertible notes and senior notes in the United States and Canada raising proceeds of over US$2.1-billion

• TransCanada PipeLines Limited and TransCanada Trust on the US$750-million offering in the United States of hybrid notes by TransCanada Trust

• 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 shelf prospectuses 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 three issues of cumulative five-year rate reset preferred shares raising gross proceeds of over C$600-million

Mergers and Acquisitions/Corporate Reorganization

• Pattern Energy Group Inc. on its approximately US$6.1-billion all-cash acquisition by the Canada Pension Plan Investment Board

• H&R Real Estate Investment Trust in connection with its October 2018 court-approved internal reorganization to unwind its "stapled unit" structure with H&R Finance Trust, and its 2021 reorganization to spin off Primaris Real Estate Investment Trust

• 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

• Multiple Canadian bond issuers in connection with bondholder consent solicitation transactions

• 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

Brendan has been recognized in the following publications:

• IFLR1000: The Guide to the World's Leading Financial Law Firms 2023 (M&A)

• IFLR1000: The Guide to the World's Leading Financial Law Firms 2021 (M&A)

• The Legal 500 Canada 2017 (Capital Markets – Recommended)

• Canadian Legal Lexpert Directory 2016 (Corporate Finance and Securities – Repeatedly Recommended)

Admitted to the Ontario Bar – 1995
LLB (Gold Medallist), University of Ottawa – 1993
BA (Hon.), University of Western Ontario – 1990