Date Closed

March 11, 2005

Lead Office

Montréal

Value

350.00 Million CAD

On March 11, 2005, Scott Paper Ltd. completed a $350 million cross-border refinancing of its credit facilities through new credit facilities comprised of a Canadian and a US revolving and term tranche, a portion of which was used to acquire KTG (USA) LP from Kruger Inc. and to redeem 10 per cent debentures due 2007 for an aggregate amount of C$159,250,000. The banking syndicate for this refinancing was led by National Bank Financial Inc., Caisse de dépôt et placement du Québec and TD Securities, as lead arrangers, and is comprised of 8 financial institutions.

McCarthy Tétrault advised Scott Paper with a team that was led by Robert Metcalfe.