Tembec Group enters into credit facilities

On November 18, 2015, Tembec Inc., and certain of its Canadian and U.S. subsidiaries (collectively the Tembec Group), entered into senior secured unitranche Canadian and U.S. asset-based revolving and term loan credit facilities in the aggregate principal amount of US$212,000,000. The facility is agented by Wells Fargo Capital Finance Corporation Canada. Tembec is a manufacturer of forest products – lumber, pulp, paper, and specialty cellulose – and a global leader in sustainable forest management practices. Principal operations are in Canada and France. Tembec has approximately 3,250 employees and annual sales of approximately $1.5 billion. Tembec is listed on the Toronto Stock Exchange (TMB).

Norton Rose Fulbright Canada LLP represented Wells Fargo in Canada with a team consisting of David Amato and Amanda Fortuna (Toronto) and Michele Friel and Pierre-Olivier Tremblay (Quebec). Goldberg Kohn Ltd. represented Wells Fargo in the United States with a team consisting of Joseph Zizzo, Gary Zussman and Alexandria Filush.

The Tembec Group was represented by Patrick LeBel, its Vice President, General Counsel and Corporate Secretary; with the assistance in Canada by Stikeman Elliott LLP, with a team consisting of Howard Rosenoff, Daniel Tsarevsky, Lea Benitah-Bouchard, Marie Garneau and Vanessa Beamish; and in the United States by Cahill Gordon & Reindel LLP with a team consisting of William Hartnett, Timothy Gallagher and Ted Lacey.