Vedder Thinking | News Vedder Price Advises Air Canada in $1.25 Billion Refinancing
November 3, 2016
Vedder Price is pleased to announce that it has advised Air Canada in the successful refinancing of C$1.25 billion of indebtedness. The refinancing transaction included the issuance of C$200 million in Senior Secured Notes due 2023, as well as the issuance of US$800 million in term loan B financing maturing in 2023 and an undrawn US$300 million revolving credit facility under a new loan agreement.
Vedder Price drew on the deep knowledge and extensive cross-border experience in its banking, capital markets, transportation finance, tax and corporate groups. “This highly successful transaction highlights Vedder Price’s capability in navigating cross-border capital markets and banking facilities and is an excellent example of our ability to field a team of exceptionally talented attorneys to achieve great results for a highly valued client,” said Dean N. Gerber, Shareholder and Chair of the firm’s Global Transportation Finance team. John T. Blatchford, Shareholder and Co-Chair, Securities & Capital Markets group, added, “we are delighted by the successful completion of this transaction, and by the fact that since 2013 our firm has assisted Air Canada in completing financing transactions with a value in excess of US$5 billion.”
Vedder Price is a thriving, 300-lawyer firm with seven offices worldwide, including Chicago, New York, Washington, DC, London, Los Angeles, San Francisco and Singapore. The firm offers a unique mix of finance, corporate, labor and employment, and litigation skills, including market-leading practices in global transportation finance, middle-market finance/M&A, executive compensation, employment class actions and more. Vedder Price has enduring relationships with marquee organizations, and many of the firm’s clients have been with the firm since its founding in 1952.