199 Bay St, Suite 5300, Commerce Court West, Toronto, ON
Year called to bar: 1999 (ON)
Jason Kroft is a partner in the Banking & Finance, Financial Products & Services, Capital Markets, and Emissions Trading & Climate Change Groups. His practice covers a broad range of advisory and transactional matters in the corporate–commercial law area, with a focus on corporate and structured finance matters including financial products, structured finance, energy, commodity and mining products and transactions, public and private asset securitization, banking and secured finance including project finance, and covering a range of exchange-traded and over-the-counter derivative products. Jason’s diverse clientele includes banks and other financial institutions and financial intermediaries, investment banks and securities dealers, investment and hedge funds, pension funds and their administrators, governmental and quasi-governmental entities including sovereign wealth funds, industrial companies, mining ventures, trustees, custodians, agents, and rating agencies, among others. In addition to his practice, Jason co-chairs the Community Involvement and Pro Bono Committee in the Toronto office.
On March 31, 2017, J.C. Flowers & Co. LLC (“J.C. Flowers”) and Värde Partners completed the acquisition of CitiFinancial Canada (now Fairstone Financial Inc. (“Fairstone”)) from an affiliate of Citigroup Inc. (“Citi”).
On June 24, 2015, MBARC Credit Canada Inc. (MBARC), an indirect wholly owned subsidiary of Daimler AG and a direct wholly owned subsidiary of Mercedes-Benz Financial Services Canada Corporation (MBFSC), completed an offering of $424,200,000 of asset-backed notes collateralized by a pool of over 13,500 Canadian retail auto lease contracts and the related new and used vehicles.
Essar Steel Algoma Inc. (Algoma) concluded its comprehensive US$1.4 billion recapitalization and refinancing. Algoma restructured certain of its existing debt obligations by way of a plan of arrangement under the CBCA and refinanced its outstanding debt through concurrent Term Loan, ABL, High Yield Debt and Junior Notes financings.
Element Financial Corporation acquired the assets and operations of PHH Arval, PHH Corporation's North American fleet management services business, for a purchase price of US$1.4 billion in cash. Element also assumed PHH's obligations under the PHH fleet securitization programs in the US and Canada.