On Nov. 19, Tervita Corporation successfully completed a private offering of US$500 million aggregate principal amount of 11 per cent senior second lien secured notes due 2025 and the amendment and restatement of its $350 million revolving credit facility.
Proceeds of the offering, together with a combination of cash on hand and available borrowings under its amended and restated revolving credit facility, were used to repurchase or redeem all of the US$590 million aggregate principal amount outstanding of Tervita’s 7.625 per cent senior secured notes due 2021.
Norton Rose Fulbright Canada LLP represented Tervita Corporation with a team that included
Niall Roe (securities),
Hailey Boutin (banking),
Elisabeth Trotter (tax, Calgary),
Peter Wiazowski (banking / securities, Montreal),
Todd Schroeder (tax, Dallas),
Verma Hersh (tax, Houston).
Cahill Gordon & Reindel LLP acted as U.S. counsel to the initial purchasers of the notes with a team that included
Blake, Cassels & Graydon LLP acted as Canadian counsel to the initial purchasers of the notes with a team that included
and acted as counsel to the lenders under Tervita’s amended and restated revolving credit facility with a team that included