Resolute Forest Products extends C$500M senior secured asset-based revolving credit facility

Date Closed

May 14, 2019

Lead Office

Montréal

Value

500.00 Million CAD

On May 14, 2019, Resolute Forest Products completed a five-year extension of its senior secured asset-based revolving credit facility with an aggregate lender commitment of up to C$500 million at any time outstanding, subject to borrowing base availability based on specified advance rates, eligibility criteria and customary reserves.

The facility was provided by a syndicate of six banks, with Bank of America as administrative agent and collateral agent. Bank of America, Wells Fargo and Bank of Montreal acted as joint lead arrangers and joint bookrunners. CIBC and TD Bank acted as co-documentation agents.

Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including newsprint, specialty papers, market pulp and wood products. The company owns or operates some 40 pulp and paper mills and wood products facilities in the United States, Canada and South Korea, and power generation assets in Canada. 

McCarthy Tétrault LLP represented Resolute with a team that was led by Marie-France Gagnon and Marjolaine Hémond Hotte that included Jason Phelan.

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