Noverco Refinances Bank Debt

On June 13, 2005, Noverco Inc. refinanced its bank debt, increasing its credit facilities with a lending syndicate, composed of 12 financial institutions, to $675 million. Noverco is the sole shareholder of Gaz Metro Inc., the general partner of Gaz Metro Limited Partnership, which, with an underground pipelin network of almost 10,000 km, is a leading Quebec energy company and one of Canada's largest natural gas distributors.

Noverco was represented by Marc Lemieux of McCarthy Tétrault LLP in Montreal. The syndicate, led by National Bank Financial Inc., as lead arranger, was represented by Fasken Martineau DuMoulin LLP with a team comprised of David Lemieux and Félix Gutierrez in Montreal and Richard Peters in Calgary.


David Lemieux Marc Lemieux Félix Gutierrez Richard H. Peters