Transaction|June 10, 2009
IESI-BFC completes US$149.5 initial public offering
Torys acted as counsel to IESI-BFC with a team that included Glen Johnson, Andy Beck, Daniel Raglan, Jonathan Cescon, Peter Bryce, Mark Irving, Sean Keating, Anita Houshidari, Daniel McConville and Heding Yang.
On June 10, 2009, IESI-BFC Ltd. (IESI-BFC) completed a U.S. public offering under the MJDS of 13 million common shares, as well as an over-allotment for an additional 1.95 million common shares, at US$10 per share, for aggregate gross proceeds of US$149.5 million.
The net proceeds from the offering and option were used to repay a portion of IESI-BFC Ltd.'s outstanding borrowings under its U.S. revolving credit facility.
IESI-BFC is the new company formed by the amalgamation of BFI Canada Ltd. with its wholly owned subsidiary IESI-BFC Ltd. The company will continue to operate as BFI Canada in Canada and IESI in the United States.
Further information is found on IESI-BFC Ltd.'s website.