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Goodmans Expertise

Debt Issuances and High Yield Debt

The Canadian high-yield debt market continues to develop as transaction volume and value increase, and Canadian issuers increasingly look to tap into this market.  Goodmans’ Banking and Finance Group has established significant expertise in this area through its representation of parties on all sides of major transactions, both on U.S. deals with a Canadian component and purely Canadian deals.  Our lawyers have advised financial institutions such as The Bank of Montreal and National Bank Financial as underwriters and issuers such as Atlantic Power Corporation, Postmedia Network Inc. and Masonite International Corporation, and have teamed with our Corporate Restructuring Group in representing creditor committees in some of Canada’s largest high-yield debt exchange offerings.

Recent representations include:

  • Golf Town Canada Inc. and Golfsmith International Holdings, Inc. in their joint offering of $125 million of high yield notes (2012)
  • Postmedia Network Inc. in its $250 million high yield note offering (2012)
  • Apax Partners in connection with Trader Corporation’s US$290 million high yield note offering, completed in order to partially finance Apax Partners’ $708 million acquisition of Trader Corporation from Yellow Media Inc. (2011)
  • National Bank Financial, as underwriter, in connection with the $215 million high-yield bond offering by Mobilicity (2011)
  • Atlantic Power in its US$460 million high yield note offering in connection with its $760 million acquisition of Capital Power Income L.P. (2011)
  • Ad-hoc committee of noteholders of Newport Partners Income Fund in connection with its Canadian $203 million senior secured note exchange transaction (2011)
  • Masonite International Corporation in its US $275 million high yield note offering (2011)
  • Postmedia Network Inc. in its US $275 million high yield note offering, completed to finance in part its purchase of newspaper assets from Canwest (2010)
  • Ad-hoc committee of noteholders of Catalyst Paper Corporation in connection with its US $318 million private exchange offer (2010)

 

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