Michael has over 20 years experience representing both lenders and borrowers in a wide range of transactions involving debt financing, including operating and term credit facilities provided by banks and other financial institutions (both individually or as part of a syndicate), acquisition financing, including leveraged buyout transactions which frequently involve multiple tiers of secured and unsecured debt, commercial lease financing, asset-based loan facilities and subordinated or mezzanine debt financing.
Michael’s experience extends to the financing of a wide variety of businesses across a range of sectors, including many different manufacturing concerns, commercial and residential real estate development, construction, aircraft operations and a variety of service providers. Michael’s work frequently involves interprovincial and other multi-jurisdictional financing transactions and he has considerable experience in dealing with the multi-jurisdictional issues arising in such transactions. Michael was the head of the Corporate Group at Lawson Lundell.
Michael’s transaction experience includes:
•Advising Catalyst Paper Corporation in its acquisition of the Biron paper mill located in Wisconsin and the Rumford pulp and paper mill located in Maine, USA from NewPage Corporation, NewPage Wisconsin System Inc., and Rumford Paper Company for a purchase price of US$74 million together with the associated acquisition financing and related increase in Catalyst’s ABL Credit Facility from CDN$175 million to CDN$225 million and US$25million (principal amount) offering of PIK Toggle Senior Secured Notes.
•Acting for a syndicate of Canadian banks and other financial institutions in connection with a $130 million pre-construction and development loan for the initial two phases of the multi-phased commercial and residential redevelopment of a major retail shopping centre in Burnaby, British Columbia.
•Acting as counsel for the sponsor in connection with senior and subordinated credit facilities aggregating $83 million for the acquisition and operation of a business comprising the extraction, processing and distribution assets of one of North America’s largest producers of natural calcium chloride products, based in Slave Lake, Alberta.
•Acting as British Columbia counsel in connection with the financing for the development and construction of biomass fired power plants in Fort St. James and Merritt, British Columbia.
•Acting for one of North America’s leading producers of mechanical printing papers in the structuring, negotiation, establishment and syndication of a $330,000,000 asset based loan facility
•Acting for a leading Canadian manufacturer of concrete masonry and hollow-core concrete pipe in the structuring, negotiation, establishment and syndication of an aggregate of $65,000,000 in senior syndicated and subordinated credit facilities to finance an acquisition and the ongoing working capital requirements of the business
•Acting for a leading Canadian private equity firm in the structuring, negotiation, establishment and syndication of $94,000,000 credit facilities in connection with the acquisition of a 50% equity interest in the largest Canadian manufacturer of specialized truck tanks and trailers
•Acting for the purchaser in structuring and implementing the debt component of the financing for a US$161,000,000 acquisition of a recycled newsprint mill in Arizona
•Acting for a leading Canadian private equity firm in the structuring, negotiation, establishment of senior syndicated and subordinated credit facilities aggregating $96,500,000 providing acquisition, term and operating financing for a leading manufacturer, marketer and distributor of private label and branded food products
•Acting for a Canadian bank in structuring and establishing $53,000,000 in credit facilities for the acquisition and phased renovation of a shopping mall in Nanaimo, British Columbia