79 Wellington St W, Suite 3000, Box 270, TD Ctr, Toronto, ON
Year called to bar: 1999 (ON)
Amanda Balasubramanian is a leading lawyer in commercial banking and debt financings in Canada. Her legal acumen, market experience and proactive approach help move her clients’ goals and business strategy forward. Co-head of Torys’ Banking and Debt Finance practice, Amanda represents lenders, sponsors and borrowers in domestic, international and global transactions, including acquisition finance, private equity and leveraged finance, liquidity financings, public and private offerings of debt securities, and streaming and royalty-based financings. Fund clients and lenders rely on her experience in designing fund finance products, including subscription facilities, NAV facilities and co-investment programs. Amanda’s work for clients extends to restructuring transactions, where she represents clients in debtor-in-possession and exit financings, as well as stream financings and the resultant intercreditor relationships.
On August 31, 2018, the Government of Canada indirectly acquired the Trans Mountain Pipeline system and the Trans Mountain Expansion Project (TMEP), through Trans Mountain Corp. (a subsidiary of the Canada Development Investment Corp. (CDEV)) from a subsidiary of Kinder Morgan Canada Ltd. (KML) for cash consideration of $4.5 billion.
On May 31, 2018, an affiliate of Fairfax Financial Holdings Ltd. (Fairfax) acquired all of the share capital and business of Toys “R” Us (Canada) Ltd. Toys “R” Us (Canada) Ltee (Toys Canada) for a purchase price of $300 million subject to certain working capital adjustments. The share transaction, which was completed in connection with Toys Canada’s emergence from restructuring proceedings under the Companies’ Creditors Arrangement Act (the CCAA) and Chapter 11 of the U.S. Bankruptcy Code, has enabled Toys Canada to continue as a going concern without compromising creditor claims and preserved Toys Canada’s position as Canada’s leading toy and baby retailer.
On July 13, 2017, Cheung Kong Property Holdings Ltd. (CKP) completed the acquisition of Reliance Home Comfort (Reliance) from investment funds managed by Alinda Capital Partners (Alinda), for an equity purchase price of approximately $2.82 billion.
In the culmination of a complex cross-border bankruptcy sales and auction process, on February 28, 2017, Performance Sports Group Ltd. (PSG) announced the completion of the sale of substantially all of its assets to an investor group led by Sagard Holdings Inc. (Sagard) and Fairfax Financial Holdings Limited (Fairfax) for US$575 million, subject to certain adjustments, and the assumption of related operating liabilities.
On April 29, 2016, the Bank of Nova Scotia (Scotiabank) sold the business operations and assets of Roynat Lease Finance, a lease financing business and a division of Roynat Inc., to Meridian Credit Union Limited (Meridian), Ontario’s largest credit union.
An affiliate of Mattamy Homes Ltd. acquired all of the issued and outstanding shares of Monarch Corporation, the Canadian operations of US homebuilder Taylor Morrison Home Corporation, for CAD$335 million at closing, subject to customary post-closing adjustments. Immediately prior to the closing, approximately C$235 million of cash at Monarch was distributed to a subsidiary of TMHC for total proceeds of C$570 million from the share sale. The transaction closed following the satisfaction of customary closing conditions, including clearance by the Canadian Competition Bureau.