This financing was one of the first financings of a hostile takeover bid in Canada in many years. Chemtrade Logistics Income Fund acquired all of the issued and outstanding shares of Canexus Corporation by way of a plan of arrangement in Alberta. Chemtrade initially launched a hostile takeover bid for Canexus Corporation and the parties subsequently agreed to a friendly deal worth approximately CDN $900 million. To partially fund the acquisition, certain subsidiaries of Chemtrade Logistics Income Fund entered into a USD $1.03 billion senior secured credit agreement with a syndicate of banks led by Bank of Montreal, acting as Administrative Agent and Lead Arranger. Fasken acted as lead counsel to the lending syndicate.