Ornge establishes $175 million term credit facility to acquire aircraft
December 11, 2008
175.00 Million CAD
On December 11, 2008, Ornge entered into a new C$175 million unsecured non-revolving term credit facility with The Toronto-Dominion Bank and National Bank of Canada. The Toronto-Dominion Bank acted as the administrative agent on the facility.
Ornge is a charitable corporation that provides aero medical transport services and critical care inter-facility land transport services in the Province of Ontario. Ornge is one of the largest and most sophisticated programs of transport medicine in North America. The facility will be used to partially finance the acquisition of fixed-wing and rotary aircraft and to finance various other capital projects.
The agent and the lenders were represented by McCarthy Tétrault LLP with a team comprised of Stephen Furlan, Justin Lapedus and John Park.