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
Kirk Litvenenko,
Kirsty Sklar,
Jennifer Kennedy,
Kassy Corothers,
Reid Yester,
Katherine MacPhail,
Mitch Ng,
Niall Roe (securities),
Rick Borden,
Matthew Longstaff,
Amy Yang,
Hailey Boutin (banking),
Darren Hueppelsheuser,
Dion Legge,
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
John Tripodoro,
Brian Kelleher,
Stephen Harper,
Christopher Guerin,
Jonathan Stempel.
Blake, Cassels & Graydon LLP acted as Canadian counsel to the initial purchasers of the notes with a team that included
Tim Phillips,
Jonathan York,
Drew Campbell,
and acted as counsel to the lenders under Tervita’s amended and restated revolving credit facility with a team that included
Michael McIntosh,
Andrew Kolody,
Ali Hyde.