Transat A.T. Completes Back-to-Back Financings

Transat A.T. Inc. closed a $20 million private placement financing of debentures with CDP Capital and Solidarity Fund FTQ, and a $90 million credit facility with a bank syndicate composed of National Bank of Canada, Société Générale (Canada) and The Bank of Nova Scotia on January 10, 2002. Transat further completed on February 19, 2002 a $50 million public offering of 9 per cent convertible unsecured subordinated debentures due March 1, 2007, pursuant to a bought deal financing underwritten by CIBC World Markets Inc., National Bank Financial Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc. and Yorkton Securities Inc.

In all three transactions Transat was led in-house by Bernard Bussières, vice-president, legal affairs and secretary, assisted by in-house counsel Sophie Audet, Nathalie Delisle and Agnieszka Charysz. External counsel to Transat in all three transactions was the Montreal office of Fasken Martineau DuMoulin LLP. The public offering of debentures was led by Robert Paré, assisted by Jocelyn Lafond and Jean-Pierre Chamberland. Gilles Carli advised on tax issues relating to the offering. The private placement of debentures was handled by Robert Paré and Jean-Pierre Chamberland. The bank financing was led by Xeno Martis, assisted by Alain Riendeau and David Lemieux.

The underwriters were represented by the Montreal office of McCarthy Tétrault LLP, with a team consisting of Christiane Jodoin and Mireille Tremblay (business) and Elaine Marchand (tax). For the private placement of debentures, Robert Côté, senior legal counsel, CDP Capital, and Liette Leduc of Solidarity Fund handled the transaction, advised by Martine Kaigle and Patrick Boucher of McCarthy Tétrault in Montreal. The banking syndicate was represented by McCarthy Tétrault, with a team that included Mason Poplaw, Jean-François Boisvenu and Marie-France Gagnon in Montreal.