Financial Services: Representative Work

Corporate Lending

  • Penfund in its US$60 million loan to Caliber Collision Centers.
  • Canadian Imperial Bank of Commerce, National Bank of Canada and The Toronto-Dominion Bank, as co-lead arrangers, in respect of the £1,245,000,000 term credit facility and Cdn$1,500,000,000 backstop revolving credit facility to be made available by a syndicate of lenders to CGI Group Inc. for the purpose of funding the cash acquisition by CGI Holdings Europe Limited, a wholly-owned subsidiary of CGI Group Inc., of the entire issued and to be issued ordinary share capital of Logica plc.
  • Bank of America, N.A. and other lenders in an aggregate of $450 million in syndicated revolving and term credit facilities in favour of St. Mary’s Cement Inc. (Canada) and certain affiliates.
  • Kinross Gold Corporation in connection with US$1.2 billion unsecured credit facilities.
  • The Toronto-Dominion Bank in connection with the financing of AGF Management Limited’s purchase of Acuity.

Debtor-in-Possession Financing

  • Circuit City Stores, Inc. and its Canadian subsidiary, Intertan Canada Ltd., in a US$1.1 billion senior secured credit facility.
  • Canwest Media Inc. in a secured $75 million asset-based credit facility (convertible into a $100 million debtor-in-possession credit facility) extended by CIT Business Credit Canada Inc. and the issuance of the U.S. dollar equivalent of $105 million 12% Senior Secured Notes.
  • Brookfield Bridge Lending Fund Inc., as agent, with debtor-in-possession financing provided to MAAX Corporation to fund the CCAA process and subsequent acquisition financing provided by HSBC Bank Canada.

Asset-based Lending

  • Cara Operations in connection with its new senior secured credit facilities and the redemption of its $200 million 9.125% Senior Secured Second Lien Guaranteed Notes due 2015.
  • Deutsche Bank Trust Company Americas, as Administrative and Collateral Agent, under a US$350 million asset based credit facility provided to Essar Steel Algoma Inc.
  • Wells Fargo Capital Finance Corporation Canada, as primary Collateral Agent and a Lender, under a $175 million asset based credit facility for Catalyst Paper Corporation.
  • UBS AG in a $135 million first lien asset-based loan to a large crane owner, operator and lessor.
  • A communications infrastructure firm in facilities from Bank of Montreal.
  • Wells Fargo Retail Finance LLC and another financial institution in $1.3 billion in facilities for Hudson’s Bay Company and its subsidiaries.

Asset Securitization and Structured Finance

  • Underwriters counsel in the issuance by Ford Auto Securitization Trust of Series 20011-R1 Asset-Backed Notes. 
  • Acted for the administrative agent and purchasers, in Canada, in connection with a bankruptcy remote $3,000,000,000 syndicated conduit facility secured by retail, lease and wholesale financial assets.
  • Issuer’s counsel in the initial offering of covered bonds by The Bank of Nova Scotia in the United States pursuant to a Rule 144A private placement.
  • Issuer’s counsel to Bank of Montreal in connection with the establishment of its covered bond programme and three issuances thereunder.

Project Finance

  • Bondfield Construction Company on the $84 million project financing of an Ontario healthcare centre.
  • A syndicate of international lenders including: Calyon Crédite Agricole CIB, West LB, BNP Paribas, Santander Investment, Unicredit Group, Sumitomo Mitsui Banking Corporation and Landesbank Hessen-Thuringen (Helaba) in a proposal to Infrastructure Ontario for a health care redevelopment project.
  • Sun Life Assurance Company of Canada and The Canada Life Assurance Company in a proposal to Infrastructure Ontario for the Ontario Provincial Police Modernization Project (bid stage)
  • Ontario Teachers' Pension Plan on the $165 million project financing to the Deh Cho Bridge Corporation for the design, development, construction and operation of a new two lane toll bridge over the Mackenzie River near Fort Providence, Northwest Territories.