Dollarama Secures $600M Credit Facility

On June 10, 2010, Dollarama Group L.P. (“Group LP”), a wholly owned subsidiary of Dollarama Inc. (“Dollarama”), entered into a new all-Canadian $600 million syndicated senior secured credit facility with Royal Bank of Canada, as administrative agent, and arranged by RBC Capital Markets, Canadian Imperial Bank of Commerce and The Bank of Nova Scotia (the “New Credit Facility”). Group LP used the proceeds of the New Credit Facility, among other things, to repay its senior secured credit facility, to redeem and discharge the senior floating rate deferred interest notes issued by its affiliate, Dollarama Group Holdings L.P., and to repay the debt-related hedging obligations.

The Dollarama entities were represented in Canada by the Montréal office of Stikeman Elliott LLP, with a team that included John Leopold, Peter Castiel, Sophie Lamonde, Vanessa Coiteux and Dominique Perron (corporate); Howard Rosenoff and Lana Rabinovitch (banking) and Marie-Andrée Beaudry and Frank Mathieu (tax) and in the United States by Ropes & Gray LLP, with a team that included Carl Marcellino (corporate); Byung Choi, Milap Patel and Peter Bordonaro (banking) and Rom Watson (tax).

The lending syndicate was represented by Borden Ladner Gervais LLP, with a team that included Kenneth Atlas, Glen Bowman and Jason Hadid.