Following its merger with Lang Michener in January 2011, McMillan finds itself in a stronger position in the market in terms of headcount.Most of the firm's capital markets work is born out of the mining industry, with both equity and debt mandates coming the firm's way....
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Following its merger with Lang Michener in January 2011, McMillan finds itself in a stronger position in the market in terms of headcount.
Most of the firm's capital markets work is born out of the mining industry, with both equity and debt mandates coming the firm's way.
In the former category, the team last year acted for Detour Gold on the completion of its C$290 million ($281 million) public offering and $500 million private placement of convertible notes. The funds will be used in part to fund the Detour Lake project. In a similar deal the team also acted for Tahoe Resources on its $383 million IPO on the Toronto stock exchange.
On the debt side, in a restructuring related mandate, the team advised Teck Resources on a series of refinancing transactions which included the offer of $1.45 billion in new senior notes and a separate tender for $2.45 billion in previously issued senior secured notes.
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McMillan's merger last year with Lang Michener has greatly enhanced its financial services practice with six new partners joining the team. Robert Cranston, Douglas Pedlow, John Morrison, David Thring, Eric Friedman and Graham Mattehws all join the expanded team....
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McMillan's merger last year with Lang Michener has greatly enhanced its financial services practice with six new partners joining the team. Robert Cranston, Douglas Pedlow, John Morrison, David Thring, Eric Friedman and Graham Mattehws all join the expanded team.
Lender side mandates were very much the order of the day for the firm and in one example the team acted for Royal Bank of Canada as agent and lender of an acquisition finance facility made available to Niagara Acquisition for the C$2 billion ($1.9 billion) purchase of a real estate portfolio from ING Summit Industrial Fund.
The firm also picked up two major refinancings. In one the team acted for Deutsche Bank New York and the bank's Canadian branch as the administrative agents on the refinancing of a $1.8 billion asset based revolving credit facility and a $1.6 billion loan to the Hertz Corporation and Hertz Equipment Rental. In the second, a substantial group from the firm acted for The Bank of Nova Scotia as the administrative agent for a syndicate of senior lenders on the refinancing of Canwest Media's $300 million loan and Canwest Limited's $1.3 billion loan in connection with the sale of the latter's Postmedia Network.
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Department head Andrew Kent continues to be the key figure at McMillan and last year he acted for The Bank of Nova Scotia as administrative agent for both the senior and DIP lenders in the Canwest CCAA (Companies' Creditors Arrangements Act) proceedings. Kent also advised the lenders in the Trident Exploration CCAA....
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Department head Andrew Kent continues to be the key figure at McMillan and last year he acted for The Bank of Nova Scotia as administrative agent for both the senior and DIP lenders in the Canwest CCAA (Companies' Creditors Arrangements Act) proceedings. Kent also advised the lenders in the Trident Exploration CCAA.
In another notable deal Sheryl Siegel acted for Georgia Pacific on the CCAA proceedings of Grant Forest Products. The deal saw Georgia acquire the bulk of Grant's strand board business for $400 million.
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