Xplore Inc., a leading provider of high-speed broadband services to Canadians in rural communities, announced the completion of a comprehensive recapitalization valued at more than $1.8 billion of new funding committed through both private investment and multiple federal and provincial government broadband programs.
The investment is being led by Xplore’s controlling shareholder, Stonepeak, and includes other institutional investors.
Goodmans LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as Canadian and US counsel, respectively, to Xplore Inc. The Goodmans team included Robert Chadwick, Bradley Wiffen, Joseph Pasquariello, Erik Axell, Victor Liu, Christina Liao, Carrie Smit, Tommy Friedlich, Jeff Citron, and Michael Koch.
Davies, Ward, Phillips & Vineberg LLP served as Canadian project finance counsel to Xplore Inc.
Blake, Cassels & Graydon LLP and Simpson Thacher & Barlett LLP served as Canadian and US legal counsel, respectively to Stonepeak.
Bennett Jones LLP and Gibson, Dunn & Crutcher LLP served as Canadian and US counsel, respectively, to the lender committee.
McCarthy Tetrault LLP acted as Canadian legal counsel to the debt agents.
Borden Ladner Gervais LLP acted as Canadian legal counsel to Hughes Networks and Telesat.
Chaitons LLP acted as Canadian legal counsel to Surety providers