Syndicated Credit Facilities Provided to Canadian Pacific Hotels & Resorts

Canadian Pacific Hotels & Resorts Inc., a wholly owned subsidiary of Fairmont Hotels & Resorts, was provided $800 million of syndicated credit facilities on December 12, 2001. The credit facilities were provided as part of the recapitalization programme implemented by Canadian Pacific Limited in the course of its recent spin-off transaction.

Ogilvy Renault acted for the syndicate of lenders with a team that included Michael Matheson and Sandra Nissan in Toronto and Norman Lieff in Ottawa. The syndicate of lenders was led by RBC Capital Markets Inc. Robert Stephenson, Gordon Baird and Anne Feehely (business) of McCarthy Tétrault LLP acted for the company.