The Lending and Secured Finance Review 4th Edition - Canada Chapter

Jean Anderson, Caterina Costa-Faria, Caroline Descours, David Nadler, Carrie Smit and David Wiseman recently authored the Canada Chapter in The Lending and Secured Finance Review - Fourth Edition.


The corporate lending market in Canada was very active in 2017, particularly in the merger and acquisitions area, and, overall, activity levels and the average deal size were higher than in 2016. Syndicated loans are frequently used by Canadian borrowers to fund a number of activities, including acquisitions, capital expenditures, dividend recapitalisations, refinancing of existing debt and ongoing operations. Continuing low interest rates, substantial liquidity in the North American market and reasonable credit terms have contributed to the attractiveness of leveraged loans for Canadian borrowers in 2017. However, the continued prospect of increased interest rates and uncertainty as to the future of North American trade negotiations may negatively affect the level of Canadian lending activity in 2018.