Key Equipment Finance Canada Acquires TD Portfolio

Key Equipment Finance Canada Ltd. acquired TD Bank Financial Group’s equipment finance and lease portfolio on January 1, 2003. The value of the portfolio is in excess of $640 million, although terms of the deal have not been disclosed. The two companies have also formed a multi-year alliance pursuant to which TD will refer its corporate and commercial customer to Key Equipment Finance Canada for equipment financing. Key Equipment Finance Canada is an affiliate of Ohio-based Key Corp.

Key Equipment Finance Canada and KeyBank were represented in Canada, by Stikeman Elliott LLP with a team led by Jennifer Legge and supported by Kelly Niebergall and Lisa McDowell (corporate), Eric Dufour (competition) and David Glicksman and Alan Kenigsberg (tax); and in the U.S., by in-house counsel Jeanne Early and Sandra Wald, Key Equipment Finance, and Daniel Stolzer, KeyBank.

Torys LLP acted for TD Bank and TD Asset Finance, together with in-house counsel Adriana Groskopf. The Torys team included Donna Parish, Michael Feldman, Tamara Kronis, Chris Fowles and John Guccione (corporate), John Tobin (tax) and Carolyn Naiman (competition).