Transcontinental completes C$400 million, five-year unsecured revolving credit facility
Date Closed
February 17, 2012
Lead Office
Montréal
Value
400.00 Million CAD
On February 20, 2012, Transcontinental Inc. put in place a new C$400 million five-year Unsecured Revolving Credit Facility that expires in February 2017. This Facility can be extended on an annual basis for one-year periods, subject to lenders’ approval. The Facility was arranged by a group of eight financial institutions led by the Canadian Imperial Bank of Commerce (CIBC) and Scotiabank. The Facility also has an accordion feature up to C$200 million.
Transcontinental, headquartered in Montréal, Québec, is a publishing, media and marketing company.
McCarthy Tétrault LLP represented Canadian Imperial Bank of Commerce, the agent, and the lenders, with a team led by Michel Deschamps.