Transaction|March 29, 2011
IESI-BFC completes C$256 million secondary offering of common shares
Torys acted as counsel to IESI-BFC in Canadian and United States, working with in-house counsel Ivan Cairns, Vice President and General Counsel. The Torys team included Glen Johnson, Daniel Raglan, Peter Bryce, Jonathan Cescon, Sonal Jain, Adam Banack and Yinka Olusoga (securities) and Richard Johnson and Ari Feder (tax).
On March 29, 2011, IESI-BFC Ltd. (TSX: BIN) (NYSE: BIN) announced the closing of a cross-border public secondary offering in Canada and the United States of 9,483,648 of IESI-BFC's common shares owned by TC Carting III, L.L.C. The underwriters also exercised their over-allotment option to purchase 1,422,547 additional common shares from TC Carting III. BofA Merrill Lynch, J.P. Morgan, and Raymond James acted as joint book-running managers for the offering.
Gross proceeds of the offering totalled US$256 million. IESI-BFC did not receive any proceeds from the sale of common shares offered by TC Carting III.
IESI-BFC, headquartered in Toronto, is a waste management company that provides non-hazardous solid waste collection and disposal services to commercial, industrial, municipal and residential customers across Canada and the United States.
Further information about this transaction is found on IESI-BFC's website.
Gross proceeds of the offering totalled US$256 million. IESI-BFC did not receive any proceeds from the sale of common shares offered by TC Carting III.
IESI-BFC, headquartered in Toronto, is a waste management company that provides non-hazardous solid waste collection and disposal services to commercial, industrial, municipal and residential customers across Canada and the United States.
Further information about this transaction is found on IESI-BFC's website.