Trusted by clients to be “very practical, very knowledgeable and good at thinking things through,” Rob brings a combination of commercial insight and practical know-how to his clients’ critical capital markets matters.
Client – Chambers Canada 2019
Rob advises clients on a broad range of transactions, including public and private offerings of equity and debt securities and structured products, asset acquisitions and divestitures, joint ventures, equity monetizations, corporate governance and loan financings.
Known for his expertise in securities law, Rob is regularly consulted by public companies – including mining and oil and gas companies – on disclosure issues and general commercial matters. He also acts for issuers and underwriters in major cross-border transactions and advises major U.S. investment banks on securities law compliance issues concerning Canadian offerings.
Rob is a former member of the Continuous Disclosure Advisory Committee to the Ontario Securities Commission.
TD Securities Inc., National Bank Financial Inc. and Scotia Capital Inc.
Acted for a syndicate of agents, led by TD Securities Inc., National Bank Financial Inc. and Scotia Capital Inc. in a private placement of a $150 million of senior unsecured Series G notes due June 21, 2027, issued by Crombie Real Estate Investment Trust.
BofA Securities, Inc., Barclays, J.P. Morgan and TD Securities
Acted as Canadian counsel to the syndicate of initial purchasers led by BofA Securities, Inc., Barclays, J.P. Morgan and TD Securities in an offering of US$779 million of 9.50% senior notes due 2027 of Garda World Security Corporation and to the solicitation agents in respect of the offer to purchase and consent to solicitation in respect of Garda World's US$625 million 8.75% senior notes due 2025.
Fine Capital Partners LP
Advised Fine Capital Partners LP, acting as investment manager for certain funds, in providing a standby share purchase facility regarding a private placement rights offering in Canada by DHX Media Ltd., operating as WildBrain, a Canadian media production, distribution and broadcasting company. Under the standby share purchase facility, Fine Capital agreed to acquire up to $60 million of DHX shares in respect of rights that holders do not exercise.
Metropolitan Life Global Funding I and Merrill Lynch Canada Inc.
Acted for Metropolitan Life Global Funding I, a special purpose statutory trust organized under Delaware law, and Merrill Lynch Canada Inc. in the Canadian private placement of $100 million of floating rate notes due 2022 by Metropolitan Life Global Funding I. The notes are secured by a funding agreement issued by Metropolitan Life Insurance Company.
Waste Management of Canada Corporation
Acted for Waste Management of Canada Corporation, an indirect wholly-owned subsidiary of Waste Management, Inc., in its Canadian private placement of $500 million of 2.60% notes due 2026, which were fully guaranteed by Waste Management, Inc. and Waste Management Holdings, Inc.
Scotia Capital Inc., CIBC World Markets Inc. and TD Securities Inc.
Acted for a syndicate of agents, led by Scotia Capital Inc., CIBC World Markets Inc. and TD Securities Inc., in a private placement of a $200 million senior unsecured Series F notes due August 26, 2026 issued by Crombie Real Estate Investment Trust.
BMO Nesbitt Burns Inc.
Acted for the syndicate of underwriters, led by BMO Nesbitt Burns Inc., in a $150-million bought deal public offering of common shares of New Gold Inc.
Agnico Eagle Mines Limited
Acted for Agnico Eagle Mines Limited in its exploration, earn-in and option agreement with Arcelia Gold Corp. to form property-level joint venture in respect of the La Millionaria property in the State of Chihuahua, Mexico.
CIBC Capital Markets and Eight Capital
Acted for CIBC Capital Markets and Eight Capital as joint bookrunners, in the public offering of approximately $55 million of subordinated voting shares of Canopy Rivers Inc., an investment and operating platform structured to pursue investment opportunities in the emerging global cannabis sector, and the concurrent private placement, on an agency basis, of $30 million of subordinated voting shares of Canopy Rivers to Canopy Growth Corporation.
The Carlyle Group
Acted as Canadian counsel to The Carlyle Group for the term loan and senior note offering financing for its joint acquisition with GIC of the global specialty chemicals business of Akzo Nobel N.V.
OSC Offers Pre-Filing Review of Technical Disclosure for Mining Issuers Expecting to File a Prospectus
June 10, 2019 - The Ontario Securities Commission (OSC) recently announced the adoption of a pre-filing review regime for mining issuers (see Staff Notice 43-706 – Pre-filing Review of Mining Technical Disclosure). The regime is available to mining issuers that plan to launch a public offering under a...
CSA Proposes New At-the-Market Distribution Regime
May 16, 2019 - The Canadian Securities Administrators (CSA) recently published a notice and request for comment that proposes amendments (Proposed Amendments) to Part 9 of National Instrument 44-102 Shelf Distributions (NI 44-102). The Proposed Amendments, when adopted, will provide a new regime for...
Obey or Pay: OSC Warns Off-Shore, Unregistered Trading Platforms Offering Securities to Ontario Investors
Oct. 15, 2018 - The Ontario Securities Commission (OSC) recently approved a settlement agreement with eToro (Europe) Limited (eToro), a Cyprus-based brokerage firm that operates an online cryptocurrency and stock trading platform, imposing over C$2.8 million in penalties on eToro for violating registration and...
CSA Offers Tips for Token Offerings: Direction or Deterrence?
June 28, 2018 - The Canadian Securities Administrators (CSA) has published CSA Staff Notice 46-308 – Securities Law Implications for Offerings of Tokens (2018 Notice). Released on June 11, 2018, it provides some long-awaited clarity on the CSA’s view on token offerings, commonly known as initial coin...
Demystifying Crypto in Canada: Will 2018 Be the Year of Blockchain?
Mar. 07, 2018 - The year 2017 was one of tremendous growth for blockchain, as the technology underlying Bitcoin gained attention from mainstream media outlets, financial institutions, investment funds and securities regulators across the globe. Blockchain’s rise to prominence was led by an interest in...
In the News
Rob Murphy Talks to The Lawyer’s Daily About Concerns over the CSA’s “Regulatory Sandbox”
Nov. 27, 2017 - In an article published in The Lawyer’s Daily, Davies partner Rob Murphy discusses concerns surrounding the decisions to grant exemptive relief to Montréal-based Impak Finance Inc. and Toronto-based TokenFunder Inc. to allow them to launch initial coin offerings (ICOs). The exemptions...
CSA Does Right by Rights Offerings
Sept. 29, 2015 - On September 24, 2015, the Canadian Securities Administrators (CSA) announced the adoption of a streamlined prospectus-exempt rights offering process, which is aimed at providing reporting issuers with greater access to this prospectus exemption. Rights offerings permit issuers to distribute to...
Multijurisdictional Disclosure System: Offering Securities and Reporting in the United States Using MJDS
Sept. 21, 2015 - The multijurisdictional disclosure system (MJDS) permits eligible Canadian issuers to publicly offer securities in the United States by using a prospectus that is prepared principally in accordance with Canadian disclosure requirements. The MJDS also enables these issuers to substantially...
Let’s Meet Halfway: CSA Adopts Amendments to Streamline Venture Issuers’ Disclosure
Apr. 15, 2015 - On April 9, 2015, the Canadian Securities Administrators (CSA) announced the adoption of amendments to continuous disclosure, governance and prospectus disclosure requirements (the Amendments).1 Most of the Amendments streamline the disclosure requirements for venture issuers and aim to reduce some...
New Capital Raising Rules Proposed by OSC
Mar. 21, 2014 - On March 20, 2014, the Ontario Securities Commission (the OSC) published for comment four new capital raising exemptions that have been under consideration since June 2012. The proposed exemptions, which Davies reported on in our 2014 Canadian Capital Markets Report, are: An offering...
Chambers Global: The World’s Leading Lawyers for Business—Capital Markets: Debt and Equity
Chambers Canada: Canada’s Leading Lawyers for Business—Capital Markets
IFLR1000: The Guide to the World’s Leading Financial Law Firms—Capital Markets: Debt; Capital Markets: Equity; Mergers and Acquisitions
The Legal 500 Canada—Capital Markets (Recommended)
Lexpert Special Edition Leading Canadian Lawyers in Global Mining
The Canadian Legal Lexpert Directory—Corporate Finance and Securities
The Best Lawyers in Canada—Mining Law