ShawCor Completes US$190M Refinancing

ShawCor completed a refinancing on June 27, 2006 of its credit facilities of US$125 million that is extendible up to US$190 million through a syndicate of banks led by The Toronto-Dominion Bank and JPMorgan Chase Bank, NA and including The Bank of Nova Scotia and Sumitomo Mitsui Banking Corporation. The credit facilities are guaranteed by various subsidiaries of ShawCor located in 13 foreign countries.

Lang Michener LLP represented ShawCor with a team that included William Sheridan, Eric Friedman and Behn Conroy. The syndicate was represented by Fasken Martineau DuMoulin LLP with a team that included Jon Holmstrom and David Ferris.