Kruger Wayagamack Completes Project Financing

On June 18, 2002, Kruger Wayagamack Inc. completed a $341 million project financing for the construction of a lightweight coated paper machine and the modernization of its Wayagamack mill located in Trois-Rivières, Quebec. Kruger Wayagamack is owned by a wholly owned subsidiary of Kruger Inc. and SGF Rexfor Inc. The financing consists of a senior credit facility made available by a syndicate of lenders led by National Bank of Canada and Caisse centrale Desjardins du Québec, an AMEC subordinated term loan made available by Investissement Québec and a subsidy granted by Innovation-Papier (Inno-Pap).

Kruger Wayagamack was represented by McCarthy Tétrault LLP, with a team comprised of Warren Goodman, Marie-France Gagnon and Mary Jeanne Phelan (financing), John Sullivan (real estate) and Isabelle Tremblay (environment).

Xeno Martis, David Lemieux and Félix Gutierrez (corporate finance/banking), Daniel Martin (real estate), Charles Kazaz (environment) and Alain Riendeau (insolvency) of Fasken Martineau DuMoulin LLP, acted for the senior and operating lenders. Representing Investissement Québec were in-house counsel Pierre Chartrand, and André Asselin and Christiane Alary of de Grandpre Chait. Stéphane Labrie and Éric Robichaud of Kronström Desjardins in Quebec acted for Inno-Pap.