Yellow Pages Income Fund Obtains Financing from Caisse de dépôt

On July 23, 2009, YPG Holdings Inc., as borrower and Yellow Pages Income Fund, as covenantor, obtained a five-year term loan of $100 million from Caisse de dépôt et placement du Québec made available to finance the general corporate purposes, including the refinancing of existing indebtedness.

Yellow Pages Group was represented by an in-house legal team led by François Ramsay, senior vice president, general counsel and secretary, and Adam Sargon, legal counsel; assisted by Stikeman Elliott LLP with a team comprised of Jean Lamothe, Caroline Boutin, Darina Bashilova (Montréal) and David Weinberger (Toronto). Charles Reagh of Stewart McKelvey, James A. Ferguson of Aikins, MacAulay & Thorvaldson LLP and Debra M. Koker of Ropes & Gray LLP also represented Yellow Pages Group in connection with the credit facility.

Ogilvy Renault LLP acted as counsel to Caisse de dépôt et placement du Québec with a team that included Martin Thériault and Paul Beaudry.