St. Marys Cement Completes US$575M Credit Facility

On October 18, 2006, St. Marys Cement Inc., a member of the Votorantim Group, together with its subsidiaries St. Marys Cement Inc. (Canada), St. Marys Cement Inc. (US) and VCNA Nova Scotia ULC, completed its refinancing program by a combination of replacing and continuing its current credit facility with a US$575 million credit facility, in the form of a revolving portion of US$150 million and a five-year term loan of US$425 million. JPMorgan Chase Bank, N.A., Toronto branch acted as sole administrative agent and J.P. Morgan Securities Inc. and Citigroup Global Markets Inc. acted as co-lead arrangers.

The St. Marys legal team was led by Jolanta Malicki, general counsel, and was represented in Canada by McCarthy T├ętrault LLP, with a team that included Jerald Wortsman and Gwendolyn Watson (tax); Linda Pieterson, Gordon Baird and Nicola Geary (banking and corporate); and David Bross (real estate) in Ontario and Mathieu Dubord in Quebec. St. Marys was also represented by White & Case LLP with a team that included Eric Berg, Joshua Thompson, Katherine Salisbury, Jessica Marchand, Beth Rasmussen and Lisa Alexander (bank finance); Oliver Brahmst and Jeff Escuder (M&A); Wilda Lin (tax) and Peter Trimarchi (environmental); in Brazil included Donald Baker (corporate) and Daniel Duval (banking); and in Florida included H. William Walker, Steven Vainder, Pej Razavilar, Krista DeCastro, David Segrera and Kimberly Dressler (real estate).

The lenders were represented in Canada by Blake, Cassels & Graydon LLP, with a team that included Michael Harquail, Michael Burke and Michelle Laniel (banking); Leslie Morgan and Chris Van Loan (tax); and Silvana D'Alimonte (real estate) in Ontario and Viorelia Guzun in Quebec. The lenders' counsel in the US was Milbank, Tweed, Hadley & McCloy LLP, with a team that included Richard Gray, Matthew DelRosso and Linda Robinson.

Lawyer(s)

Michelle Laniel Mathieu Dubord Viorelia Guzun Michael Burke Christopher R.J. Van Loan Gwendolyn G. Watson Nicola Geary David Bross Gordon D. Baird Jerald M. Wortsman Linda Pieterson Silvana D'Alimonte