ShawCor completes US$190 million refinancing

On June 27, 2006, ShawCor Ltd. completed a refinancing of its credit facilities of US$125 million that is extendible up to US$190 million through a syndicate of banks led by The Toronto-Dominion Bank and JPMorgan Chase Bank, NA and including The Bank of Nova Scotia and Sumitomo Mitsui Banking Corporation. The credit facilities are guaranteed by various subsidiaries of ShawCor located in 13 foreign countries. Jon Holmstrom and David Ferris of Fasken Martineau represented the syndicate.