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Shearman & Sterling Advises on Mattamy Group Corporation’s US$500 and C$225 Million Dual-Tranche Senior Notes Offering

3 Oct 2017

Shearman & Sterling advised Mattamy Group Corporation on its Rule 144A/Regulation S senior notes offering. The dual-tranche offering consisted of US$500 million and C$225 million of its senior notes paying interest at a rate of 6.5% per annum due 2025. Mattamy used a portion of the net proceeds from the offering to fund a concurrent five-business-day tender offer to repurchase any or all of its US$ 6.5% senior notes due 2020 and C$ 6.875% senior notes due 2020 conducted under the SEC’s No Action Letter dated January 23, 2015 regarding Abbreviated Tender or Exchange Offers for Non-Convertible Securities. 

Mattamy is the leading homebuilder in Canada and the largest privately owned homebuilder in North America. Headquartered in Toronto, Ontario, Mattamy is a vertically integrated builder of single-family detached, attached and multi-family homes, primarily within their master plan communities, and has expanded its operations to include high-rise condominiums within the Greater Toronto Area.

The Shearman & Sterling team included partners Jason Lehner (New York/Toronto–Capital Markets) and Larry E. Crouch (Menlo Park–Tax); and associates Ana Aur (Toronto–Capital Markets), Catherine Sum (New York–Investment Funds), Heather Pals and Ryan Robski (both Toronto–Capital Markets).

 

 

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