Export Development Canada’s $2 Billion Global Bond Offering

Davis Polk advised the underwriters in connection with the offering of $2 billion aggregate principal amount of 2.625% U.S. dollar bonds due 2024 issued by Export Development Canada.

BMO Capital Markets Corp., Crédit Agricole Corporate and Investment Bank, Merrill Lynch, Pierce, Fenner & Smith Incorporated and TD Securities (USA) LLC acted as underwriters in the deal.

Export Development Canada, a crown corporation of Canada, provides financing, insurance and bonding solutions to Canadian companies that export goods and services or invest in other countries. The bonds carry the full faith and credit of Canada.

The Davis Polk team included partner Deanna L. Kirkpatrick (Picture), counsel Jeffrey S. Ramsay and associate Rahim Manji. The tax team included partner Michael Farber.

Involved fees earner: Michael Farber – Davis Polk & Wardwell; Deanna Kirkpatrick – Davis Polk & Wardwell; Rahim Manji – Davis Polk & Wardwell; Jeffrey Ramsay – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: BMO Capital Markets; Crédit Agricole Corporate and Investment Bank; Merrill Lynch, Pierce, Fenner & Smith Incorporated; TD Securities;

Author: Ambrogio Visconti