Softchoice Enters into $115M Senior Secured Asset-Based Credit Facility

On January 30, 2009 Softchoice Corporation, one of North America's leading providers of technology solutions and services, entered into a $115,000,000 senior secured asset-based credit facility to finance its working capital needs, capital expenditure needs, general corporate purposes and to refinance its existing debt.

The transaction was entered into by Softchoice Corporation, as borrower, other Softchoice entities, as guarantors, Bank of America, N.A. (acting through its Canada branch) as agent and a syndicate of lenders. The syndicate is comprised of Bank of America, N.A. (acting through its Canada branch), Bank of Montreal and The Toronto-Dominion Bank (the “lenders”). Concurrently, Softchoice Corporation entered into a US$20,512,500 subordinate secured term facility led by HSBC Capital (Canada) Inc.

Softchoice Corporation and the Softchoice entities were represented in Canada by Borden Ladner Gervais LLP with a team consisting of Bruce Fowler, Joanne Foot, Claudine Millette, Gus Karantzoulis and Alexander Singh, and were represented in the United States by Pillsbury Winthrop Shaw Pittman LLP with a team consisting of Robert Slattery and Anna Park.

The agent and the lenders were represented in Canada by Ogilvy Renault LLP with a team consisting of Kevin Morley, David Amato, Serge Levy, Aditya Rebbapragada and Ciprian Gligor and were represented in the United States by Quarles & Brady LLP with a team consisting of David Bourne, Michael O'Shaughnessy and Kathryn Kronquist.

HSBC Capital (Canada) Inc. was represented in Canada by Gardiner Roberts LLP with a team consisting of Edgar Hielema, Zev Zlotnick and Lori Mark, and in the United States by Patton Boggs LLP, with a team consisting of Eric White and Stephen Ratliff.