On December 29, 2006, Cascades Inc. completed the purchase of Domtar Inc.'s 50% equity interest in Norampac Inc. for $560 million, becoming the sole shareholder of Norampac Inc. Cascades is a North American leader in the production, converting and marketing of packaging products, fine paper and tissue paper. Norampac is Canada's foremost manufacturer of linerboard and corrugated medium, and one of North America's leaders in corrugated products. The acquisition was financed by Cascades's $200 million public offering of subscription receipts, a concurrent $50 million private placement of subscription receipts to the Caisse de dépôt et placement du Québec, and from newly refinanced credit facilities in the amount of $850 million comprised of a $650 million revolving facility, a $100 million additional revolving facility and a $100 million term facility. The credit facilities have been made available by a banking syndicate co-led by National Bank Financial Inc., Scotia Capital and CIBC World Markets as co-lead arrangers, with National Bank of Canada and The Bank of Nova Scotia acting as co-administrative agents, CIBC World Markets acting as syndication agent and Caisse centrale Desjardins and Caisse de dépôt et placement du Québec acting as co-documentation agents. Cascades was represented by Vice-President Legal Affairs and Corporate Secretary Robert Hall and Legal Counsel and Assistant Secretary Louise Paul, and, with respect to the refinancing of its credit facilities, by Fasken Martineau with a team comprised of Marc Novello, Martin Racicot, Andrew Klug in Montreal, Thomas Meagher in Toronto and Olivia Colic in Calgary.