Date Closed

May 29, 2007

Lead Office

Toronto

Value

1.80 Billion CAD

On May 29, 2007 Saskatchewan Wheat Pool announced that its unsolicited bid for United Grain Growers Limited, carrying on business as Agricore United, had been successful and SWP proceeded to take up approximately 81.6% of AU’s outstanding limited voting common shares and 49.4% of AU’s outstanding Series A convertible preferred shares. SWP entered into a new credit agreement and completed one private placement and three public offerings to finance the AU acquisition. On May 28, 2007, SWP entered into a credit agreement with The Toronto Dominion Bank (TD) and GE Canada Finance Holding Company (GE), pursuant to which TD and GE established a non-revolving term facility in favour of SWP in a principal amount of up to $750 million Cdn.

McCarthy Tétrault advised the syndicate of lenders, with a team that was led by  Gordon Baird, and included Ana Badour, Tzen-Yi Goh, Edward Ra, Barry Ryan, David Starkman, and Alexis WIseman.