Devimco Completes New Development Credit Facility for Quartier Dix30

Devimco Inc. (“Devimco”) entered into a new development credit facility with a syndicate of lenders comprising the Canadian Imperial Bank of Commerce, as sole bookrunner and lead arranger, syndication agent and administrative agent, HSBC Bank Canada, United Overseas Bank Limited, Laurentian Bank of Canada, Business Development Bank of Canada, Pacific & Western Bank of Canada, and the Canadian Imperial Bank of Commerce, as lenders, for a total committed amount of $248,000,000, for the purpose of financing the development of Phases III to VII of the Quartier Dix30. The first drawdown under the new facility was completed on January 26, 2012.

The lenders were represented by a team from Stikeman Elliott LLP including François Ouimet (banking and corporate); Sylvia Avedis (banking); and Marie-Claude David, Olivier Boulva and Chantale Leclerc (real estate).

Devimco was represented in-house by Mathieu Jobin, Vice-President, Law and Corporate Affairs, and François Barron, Senior Counsel, with assistance from Jean Proulx and Mireille Dumont from Gascon & Associés s.e.n.c.r.l.