David M.A. Amato focuses on corporate finance and is co-chairman of the Norton Rose Fulbright asset-based lending team in Canada. As counsel and advisor to various foreign and domestic financial institutions, private debt funds, insurance companies, and an array of other credit providers, he has significant and industry-leading experience in sophisticated debt financing transactions leading numerous multi-jurisdictional, international, and domestic mandates (including asset-based, cash flow, leveraged acquisition, debtor-in-possession, mine, and project financings). As a senior and leading member of the asset-based lending team (a corporate finance area of practice for which Norton Rose Fulbright is recognized as a leading firm), he represents, and is a trusted advisor to, a number of Canadian and US asset-based lenders. He also has extensive insolvency and restructuring experience acting on behalf of creditors.
FirstService Corporation completed its previously announced acquisition of approximately 95% of Global Restoration Holdings, LLC, the second largest commercial and large loss property restoration firm in North America.
Dynamic Paint Products, Inc. and certain of its US and Canadian subsidiaries entered into a Credit Agreement providing for a US$70 million revolving asset-based credit facility agented by Regions Bank.
On July 11, 2018, PSC Metals, LLC, Cappco Tubular Products Canada Inc. and certain of their affiliates (collectively, PSC) entered into a new credit agreement which provides for, inter alia, a senior secured asset-based revolving credit facility in the initial principal amount of US$65,000,000.
On May 31, 2018, an affiliate of Fairfax Financial Holdings Ltd. (Fairfax) acquired all of the share capital and business of Toys “R” Us (Canada) Ltd. Toys “R” Us (Canada) Ltee (Toys Canada) for a purchase price of $300 million subject to certain working capital adjustments. The share transaction, which was completed in connection with Toys Canada’s emergence from restructuring proceedings under the Companies’ Creditors Arrangement Act (the CCAA) and Chapter 11 of the U.S. Bankruptcy Code, has enabled Toys Canada to continue as a going concern without compromising creditor claims and preserved Toys Canada’s position as Canada’s leading toy and baby retailer.
On June 30, 2017, Stelco Inc. (Stelco), formerly U.S. Steel Canada Inc., emerged from Companies’ Creditors Arrangements Act (CCAA) proceedings through the implementation of a CCAA plan. This involved the compromise of more than $2 billion of debt and the restructuring of approximately $2 billion of pension and benefit obligations.
On October 21, 2016, McKeil Marine (“McKeil”) and TorQuest Partners (“TorQuest”) finalized TorQuest’s investment in McKeil, in partnership with existing management and shareholders, to support the company’s next phase of growth. Terms of the investment were not disclosed.
On February 11, 2016, SunOpta Inc. and certain of its subsidiaries in Canada, the United States and the Netherlands closed a US$350,000,000 senior secured asset-based revolving credit facility.
On November 18, 2015, Tembec entered into senior secured unitranche Canadian and U.S. asset-based revolving and term loan credit facilities in the aggregate principal amount of US$212,000,000.
Roots Canada Ltd. (Roots) completed the sale of a majority stake in Roots to Searchlight Capital Partners, L.P. (Searchlight), with the co-founders Michael Budman and Don Green retaining a significant equity ownership. This investment will support the brand’s next phase of growth. The terms of the agreement were undisclosed.
On March 2, 2015, Spicers Canada ULC (Spicers), a wholly owned subsidiary of Central National-Gottesman Inc. (NG), entered into a $65 million asset-based revolving credit facility.
EACOM Timber Corporation and certain of its subsidiaries (EACOM), entered into (i) a senior secured asset-based revolving credit facility in the principal amount of C$70 million.
Brown Shoe Company, Inc. and certain of its subsidiaries, including Brown Shoe Company of Canada Ltd., entered into a fourth amendment and restatement of its senior secured asset-based revolving credit facility in the principal amount of US$600 million.
Arclin USA LLC and its US and Canadian affiliates (collectively, Arclin) entered into an amendment and restatement agreement to amend and restate an existing credit agreement to, among other things, increase the maximum facility amount and extend the maturity date.
The Polynt Group, newly acquired CCP Composites, and certain of their subsidiaries (collectively, the Polynt/CCP Group), entered into senior secured US, Canadian, UK and Australian asset-based revolving credit facilities in the aggregate principal amount of US$100 million. The global facility is agented by Wells Fargo Bank, National Association.
MRC Global Inc. and certain members of its global family of companies (collectively, “MRC Group”) entered into a second amended and restated loan, security and guarantee agreement.
