Cambior Prepaid Forward Gold Facility

On January 12, 2001, Cambior Inc. (Cambior) closed a US$55 million Prepaid Forward Gold Facility arranged by Credit Suisse First Boston International, thereby enabling it to restructure its US$65 million Syndicated Credit Facility by The Chase Manhattan Bank of Canada and The Bank of Nova Scotia, as Agents, and its Hedge Portfolio with CSFBi, Chase, Scotia, Société Générale and National Bank of Canada, as Hedge Providers.

As part of the Credit Facility transaction, Cambior has issued to the banking syndicate 1.3 million warrants to purchase common shares of Cambior at C$.56 per share. The warrants are exercisable at any time on or before December 31, 2005.

Acting for Cambior were Alain Krushnisky, Vice-President, Finance, Marc Dagenais, Vice-President, Legal Affairs and André LeBel, Legal Counsel of Cambior, together with a team from the Montreal office of McCarthy Tétrault comprised of Daniel Bénay, Mireille Tremblay, J. Robert Doyle, Stéphanie Gilcher, Sylvain Vauclair, Alain Tardif and René Sorell. Donald Francoeur of Stikeman Elliott’s Montreal office and Manuel Alvarez, Director & Counsel, and Greg Madden, Director, Commodities of CSFBi in New York represented CSFBi as Prepaid Forward Arranger. Michael Harquail and Susan Grundy of Blake, Cassels & Graydon LLP together with Denis St-Onge and Paule Tardif of Desjardins Ducharme Stein Monast represented the Agents and the Lenders.


Stéphanie Gilcher Susan M. Grundy Paule Tardif J. Robert Doyle René R. Sorell Donald Francoeur Sylvain A. Vauclair Denis St-Onge Alain N. Tardif Daniel Bénay Mireille K. Tremblay