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Cassels Brock Acts for BDC in $30 Million Credit Facility for Porter Airlines

Published: 08/26/2009

Team: Marc Mercier, Charles Newman

Cassels Brock acted for the Business Development Bank of Canada (BDC) in connection with a $30 million credit facility to Porter Airlines Inc. for the construction of a new airport terminal on Toronto Island. This transaction represents the single largest credit facility granted in the history of the BDC. The terminal is scheduled to be completed by spring 2010 and will include 10 bridged aircraft gates, passenger lounges and U.S. and Canadian customs.

Cassels Brock represented the Business Development Bank of Canada with a team that included Marc Mercier (Financial Services), Daniel Bourque (Financial Services), Charles Newman (Financial Services) and Paul Muchnik (Real Estate).