On November 18, 2015, Tembec Inc., and certain of its Canadian and U.S. subsidiaries (collectively the Tembec Group), entered into senior secured unitranche Canadian and U.S. asset-based revolving and term loan credit facilities in the aggregate principal amount of US$212,000,000. The facility is agented by Wells Fargo Capital Finance Corporation Canada. Tembec is a manufacturer of forest products – lumber, pulp, paper, and specialty cellulose – and a global leader in sustainable forest management practices. Principal operations are in Canada and France. Tembec has approximately 3,250 employees and annual sales of approximately $1.5 billion. Tembec is listed on the Toronto Stock Exchange (TMB).
Norton Rose Fulbright Canada LLP represented Wells Fargo in Canada with a team consisting of David Amato and Amanda Fortuna (Toronto) and Michele Friel and Pierre-Olivier Tremblay (Quebec). Goldberg Kohn Ltd. represented Wells Fargo in the United States with a team consisting of Joseph Zizzo, Gary Zussman and Alexandria Filush.
The Tembec Group was represented by Patrick LeBel, its Vice President, General Counsel and Corporate Secretary; with the assistance in Canada by Stikeman Elliott LLP, with a team consisting of Howard Rosenoff, Daniel Tsarevsky, Lea Benitah-Bouchard, Marie Garneau and Vanessa Beamish; and in the United States by Cahill Gordon & Reindel LLP with a team consisting of William Hartnett, Timothy Gallagher and Ted Lacey.