Date Closed

April 30, 2019

Lead Office

Toronto

Value

2.00 Billion CAD

On April 30, 2019, Maple Leaf Foods Inc. announced that it has completed a C$2 billion credit facility through its existing banking syndicate. The credit facility consisted of a C$1.3 billion unsecured committed revolving line of credit due April 30, 2024 and two unsecured committed term facilities of C$265 million and C$350 million, due April 30, 2024 and April 30, 2023 respectively. The syndicate of lenders included Bank of Montreal, as administrative agent and sole bookrunner, as well as BMO Capital Markets, Scotiabank, Royal Bank of Canada, Canadian Imperial Bank of Commerce and Rabobank Canada.

Maple Leaf Foods intends to use the credit facility to help invest in the construction of two new manufacturing facilities in London, Ontario and Shelbyville, Indiana, to provide appropriate liquidity levels for Maple Leaf Foods and for general corporate purposes.

Maple Leaf Foods is a producer of food products under leading brands including Maple Leaf, Maple Leaf Prime, Maple Leaf Natural Selections, Schneiders, Schneiders Country Naturals, Mina, Greenfield Natural Meat Co., Lightlife, Field Roast Grain Meat Co. and Swift. Based in Mississauga, Ontario, it does business in Canada, the United States and Asia.

McCarthy Tétrault LLP advised the administrative agent and lenders with a team led by Stephen Furlan and D.J. Lynde that included Dami Katibi.