Transcontinental Inc. put in place a new $400 million five-year Unsecured Revolving Credit Facility that expires in February 2017. This Facility can be extended on an annual basis for one-year periods, subject to lenders' approval. The Facility was arranged by a group of eight financial institutions led by the Canadian Imperial Bank of Commerce and Scotiabank. The Facility also has an accordion feature of up to $200 million.
Transcontinental was represented by Vice President, Chief Legal Officer and Corporate Secretary, Christine Desaulniers, assisted by Sterling Dietze, Laura Salvati and Julien Lefebvre of Stikeman Elliott LLP.
The financial institutions were represented by Michel Deschamps and Richard O'Doherty of McCarthy Tétrault LLP.