BNS- CHC Financing

James Mathers and Joanne Foot of Borden & Elliot acted for The Bank of Nova Scotia in connection with senior credits of approximately US$410,000,000 provided to CHC Helicopter Corporation. The credits were used, in part, to finance CHC’s acquisition of all of the shares of Helicopter Services Group ASA, a Norwegian public company. This multi-jurisdictional transaction involved law firms in all provinces and territories of Canada, the United States, Barbados, Norway, Denmark, Sweden, the U.K., Australia, South Africa, Brazil, Mauritius, Germany and Luxembourg. The acquisition was completed on August 11, making CHC the world’s largest helicopter operator. The Borden & Elliot team also included Winn Oughtred, Stephen Redican, Steven Lutz and Aimée Israel. CHC was represented by Noel Clarke, Q.C., Joseph Hutchings, and George Murphy of Poole, Althouse, Clarke, Thompson & Thomas of Corner Brook, Newfoundland.