Client Work Detail
matter
Solidarity Fund QFL Purchases the $100M Unsecured Debenture of TFI Holdings
CLIENT
Fonds de solidarité des travailleurs
DATE
May 26, 2008
EXPERTISE
LAWYER(S)
On May 26, 2008, Solidarity Fund QFL completed its $100-million investment in TransForce Inc. TransForce (TFI-T), which is headquartered in Montréal, Quebec, is the leader in Canada's transportation and logistics industry and manages several independently operated wholly owned subsidiaries.
The investment is in the form of an unsecured debenture of TFI Holdings Limited Partnership a wholly owned subsidiary of TransForce and is repayable on October 30, 2013. It may be repaid, without penalty, commencing one year after the date of disbursement of the loan, subject to the approval of TransForce's syndicate of bank lenders. The loan bears interest at an annual rate of 9%, payable monthly. TransForce intends to use the proceeds from the loan to support its program of strategic acquisitions.
Ogilvy Renault LLP represented Solidarity Fund QFL with a team comprised of Paul Raymond, Niko Veilleux and Marie-Claude Mailloux.
