Ontario Teachers’ Cadillac Fairview Properties Trust Issues $1 Billion Notes
March 14, 2017
Cleary Gottlieb is advising the Ontario Teachers’ Cadillac Fairview Properties Trust in its offering of 3.125 percent senior notes due 2022 and 3.875 percent senior notes due 2027.
The 2022 notes have an aggregate principal amount of $500 million and the 2027 notes an aggregate principal amount of $500 million, for a total of $1 billion.
The 2022 and 2027 notes are being offered and sold in Canada and outside Canada without being qualified under a prospectus in any jurisdiction of Canada in reliance on one or more exemptions from the prospectus requirements in Canada.
Cadillac Fairview is one of the largest owners, operators and developers of best-in-class office, retail and mixed-use properties in North America. Cadillac Fairview has been wholly owned by the Ontario Teachers’ Pension Plan since 2000. Ontario Teachers’ is a diversified global investor and administers the pensions of more than 300,000 active and retired school teachers.