On June 9, 2011, a large Canadian publisher increased its operating facility to $60,000,000 and obtained a facility for the issuance of letters of credit up to an amount of $20,000,000. The facilities are secured by substantially all of the assets of the publisher and its wholly-owned subsidiaries.

National Bank Financial acted as sole lead arranger for the arrangement and implementation of the facilities. The facilities were syndicated to a group of major Canadian financial institutions.

The syndicate of lenders was advised in this transaction by Fasken Martineau with a team that included David Lemieux, Felix Gutierrez and Francis Trifiro (Banking) and Dominique Monet and Lyne Duhaime (Labour).