On April 13, 2000, Montreal-based A. L. Van Houtte Ltée (Van Houtte), one of North America’s leaders in the coffee industry, completed a $100 million cross-border bank financing consisting of an unsecured revolving term loan made available to Van Houtte and some of its US subsidiaries by Royal Bank of Canada (as lead lender) and The Bank of Nova Scotia, through their respective Canadian and US branches. Van Houtte intends to use the proceeds of the loan to repay its existing debt and to expand its activities in the United States.
Royal Bank of Canada and The Bank of Nova Scotia were represented by Christian P. Sioufi, François Courteau and Sébastien Gingras (tax) of Ogilvy Renault (Montreal) assisted by Royal Bank of Canada’s in-house counsel in New York, Lois Radish. Counsel to the borrowers were Robert Phénix and Patrick Elfassy of Desjardins Ducharme Stein Monast, who were assisted by a number of local counsel, both in Canada and the US.
Royal Bank of Canada and The Bank of Nova Scotia were represented by Christian P. Sioufi, François Courteau and Sébastien Gingras (tax) of Ogilvy Renault (Montreal) assisted by Royal Bank of Canada’s in-house counsel in New York, Lois Radish. Counsel to the borrowers were Robert Phénix and Patrick Elfassy of Desjardins Ducharme Stein Monast, who were assisted by a number of local counsel, both in Canada and the US.
