CMLS Financial Assets Limited Partnership entered into a credit agreement providing for a $200 million senior revolving operating facility. The facility was arranged by National Bank of Canada, which also acted as administrative agent for the syndicate of lenders.
The facility is guaranteed by CMLS Financial Assets General Partner Inc. and CMLS Financial Assets Inc. The proceeds from the facility will be used to purchase and originate mortgage loans, which will be pooled and sold in secondary transactions.
McCarthy Tétrault LLP represented CMLS with a team that included Simon Fitzpatrick and D.J. Lynde (financial services).
Blake, Cassels & Graydon LLP represented National Bank of Canada and the lenders with a team that included Simon Finch and Niki Khatami (financial services).