Date Closed

June 28, 2006

Lead Office

Toronto

Value

325.00 Million USD

On June 28, 2006, Pope & Talbot Ltd. completed a refinancing of its existing debt. The credit facility is made up of a US$75 million  operating facility and a US$250 million  term facility, which paid out the existing syndicated credit facilities as well as provided for increased operating funds. This transaction also sought to refinance its Halsey pulp mill lease financings and to terminate and repurchase all outstanding receivables under its receivable sales arrangement.

McCarthy Tétrault LLP advised TD Bank, the lender, with a team led by James Gage and Susan Kennedy.