On May 13, 2003, Cadbury Beverages Canada Inc. (Candbury Canada) increased the aggregate principal amount of negotiable short-term promissory notes issuable under its commercial paper programme to $1 billion. The previous day, Cadbury Canada completed an arrangement with BNP PARIBAS (Canada) providing for a revolving credit facility in the maximum aggregate principal amount of $50 million. The credit facility was guaranteed by Cadbury Schweppes plc and is a standby facility supporting the programme.
Notes under the programme, which was established in January 1997, are unconditionally guaranteed by Cadbury Schweppes and are sold through a syndicate of dealers consisting of BNP PARIBAS (Canada), RBC Dominion Securities Inc. and TD Bank.
Cadbury Canada was represented in-house by Shari Hosaki, vice-president, general counsel and secretary, and Candace Watson-Hiscox, counsel; and assisted by Osler, Hoskin & Harcourt LLP with a team that included Laurie Barrett and Tracy Rotstein for the credit facility and Robert Yalden and Andrew Scipio del Campo for the programme. BNP PARIBAS (Canada) was represented in-house by Andrew Sclater, assistant vice-president, and Catherine Magnier, counsel.