Armtec Completes $170M Refinancing

Armtec Infrastructure Inc.'s (TSX:ARF; ARF.DB) operating subsidiary, Armtec Holdings Limited (“Armtec” or the “Company”) completed a refinancing of its existing credit facilities with a senior secured loan facility that comprised a $60 million revolving asset based loan led by Canadian Imperial Bank of Commerce and a $110 million term loan facility with Brookfield Capital Partners Fund III LP.

Both credit facilities mature in 2016. Each credit facility is secured by a charge on the assets of Armtec.

The purpose of the refinancing is for repayment of debt, working capital and other general corporate purposes. It also meets Armtec's stated turnaround goals of lowering the cost associated with financing, improved facility flexibility and a longer maturity profile.

Armtec is a leading manufacturer and marketer of a comprehensive range of infrastructure products and engineered construction solutions for customers in a diverse cross-section of industries that are located in every region of Canada, as well as in selected markets globally.

Armtec was represented internally by Mark Anderson, Malcolm Buxton-Forman and Carrie Boutcher and by Fraser Milner Casgrain LLP with a team that included Charles Rich, Richard Scott, Matthew Hibbert, Melanie Desouza, Alison Beer and Mark Mahoney in Toronto, and Barbara Farina in Montreal.

Torys LLP acted as counsel to Brookfield Capital Partners Fund III LLP with a team that included Adam Delean, Simon Williams and Adrienne Glen.

Canadian Imperial Bank of Commerce, acting as Agent and Lender, was represented by Stikeman Elliott LLP with a team that included Craig Mitchell, Kelly Niebergall and Andrew Grant.


Adam E. Delean Adrienne Love Kelly Niebergall Richard Scott Simon J.C. Williams Andrew Grant Matthew Hibbert Barbara Farina Mark A. Mahoney Craig Mitchell Charles Rich Melanie DeSouza