On March 30, 2009, Chrysler Canada Inc. completed a term facility of up to $1,000,000,000 that had been provided to Chrysler Canada Inc. by Export Development Canada, with the funds being contributed by the Government of Ontario and the Government of Canada. The purpose of the financing is to provide ongoing working capital for Chrysler Canada Inc. and to restore stability to the domestic automobile industry in Canada.
McCarthy Tétrault LLP acted for Chrysler Canada Inc., under the direction of vice president and general counsel/external affairs and public policy Lori Shalhoub, with a team consisting of Richard Higa, Robert Stephenson and Matthew Kelleher (business law); Douglas Cannon and Patrick McCay (tax); and Gordon Sato and Jonathan See (real estate). Chrysler Canada Inc. was represented in the US by Schulte Roth & Zabel LLP with a team consisting of Dan Kusnetz, Ronald Risdon, Kirby Chin, James Chi-Ho Lee and Arlene Payne.
Export Development Canada was advised in this transaction by McMillan LLP under the direction of senior legal counsel, finance legal services Norman Bayne, with a team that included Peter Willis, Timothy Murphy, Andrew Kent, Andrea St. Bernard, Vivian Chan and Paula Bokser (finance); and Robert Antenore and David Slan (real estate). Export Development Canada was represented in the US by Vedder Price PC, with a team consisting of Paul Hoffman, Michael Edelman, Michael Schein, Venu Talanki, Bridget Adaska and Laura Guest.