TCT Logistics Closes Debt Financing

On July 18, 2000, TCT Logistics Inc. (TCT), a leading Canadian transportation and logistics company, closed its senior debt financing of up to $100 million with GMAC Commercial Credit Corporation–Canada (GMAC), as well as its subordinated/convertible debt financing of $23 million with Ontario Teachers’ Pension Plan Board (Teachers’). With the proceeds of the financing, TCT has closed the acquisitions of Tri-Line Expressways Ltd., assets from Kleysen Transport Ltd., and Daily Transport Canada Inc.

Borden Ladner Gervais LLP acted for TCT on the transaction with a team led by Scott Wilson and with assistance from William Guinan, Brian Roberts, Maria Doerksen, George Kelly, Keith Chatwin and Jason Francoeur from the Calgary office. Lawyers from Borden Ladner’s other offices also assisted in various aspects of the transactions, including Brian Keith, Gordon Raman, Rosalind Morrow and Paul McCarten (Toronto), Peter Casey, Patricia Galella and Sophia Tolias (Montreal) and Timothy Sehmer and Donald Bird (Vancouver). Meighen Demers acted for GMAC with a team led by Kevin Morley and Merie-Anne Beavis and with with assistance from David Amato. Douglas Sigurdson of Aikins, MacAulay & Thorvaldson in Winnipeg acted for Kleysen with assistance from Joel Weinstein and Colin Pewarchuk. Dean Saul, Eric Nazzer and Karyn Bradley of Gowling Lafleur Henderson LLP acted for Daily. Tri-line’s legal team was led by Eugene Hretzay, General Counsel of Tri-White Corporation, who called on a team of David Dunlop, Tim Baron, Mark Opashinov and Cheryl Stacey of McMillan Binch. Michael Rumball, Chris Bean, Wesley Ng, and Samantha Horn of Stikeman Elliott acted for Teachers’.