Paul, Weiss is an acknowledged leader among U.S. law firms representing Canadian public and private companies and their underwriters. With almost 50 years of history in Canada and an office in Toronto, our vibrant Canada practice is the largest among U.S. law firms and reflects our long-standing commitment to our clients in their Canadian–U.S. cross-border matters.
Athabasca Closes Cdn$550 Million High Yield Offering
- Client News
- November 30, 2012
Practices
Athabasca Oil Corporation (Athabasca) closed its high yield offering of Cdn$550 million aggregate principal amount of 7.50% Senior Secured Second Lien Notes due 2017, pursuant to Rule 144A in the United States and pursuant to Regulation S outside the United States. The transaction was reported to have been the largest Canadian dollar high yield offering in history.
Proceeds from the transaction are to be used, in part, to advance Athabasca's thermal oil assets in the Athabasca oil sands region of Alberta, Canada and the development of its light oil assets in northwestern Alberta. Paul, Weiss represented the Underwriters, led by TD Securities Inc. and GMP Securities LP, in connection with the offering.
The Paul, Weiss team included corporate partner Adam Givertz; and tax partner David Sicular.