US $192 M Credit Facility For Bracknell

A US$192,500,000 syndicated credit facility has been arranged for Bracknell Corporation, Nationwide Electric, Inc. and The State Group Limited. It was the first syndicated loan transaction undertaken by these borrowers and the credit agreement itself was complicated by various cross-border tax and security issues as well as by a desire on the part of the syndicate to provide non-pro rata availments of the facilities.

James A. Riley, Mary E. Kelly and Julie A. Lane of Ogilvy Renault acted for a syndicate of banks led by Royal Bank of Canada for the implementation of working capital and acquisition facilities for Bracknell et al. They were assisted by Ivan Mattei and Peter Furriss of Debevoise & Plimpton in New York. Peter B. Birkness of Torys represented Bracknell and was assisted by John Naccarato, corporate counsel and secretary of Bracknell. Bracknell is a publicly-traded company which provides electrical, mechanical, multi-trade and telecommunications contracting and facilities management services on a global basis.


Mary E. Kelly James A. Riley Julie A. Lane Ivan E. Mattei