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Russell Dufault

Associate

Russell Dufault

Toronto

T:+1 416.216.4029

Russell Dufault is an associate in the business law group of Norton Rose Fulbright and is based in the firm's Toronto office. Russell's practice is focused on transactional banking and finance matters and includes advising financial institutions in connection with regulatory and compliance-related matters and merchant payment processing transactions. Russell's experience includes acting for Canadian and foreign financial institutions, alternative and private credit providers, private equity funds and sponsors, corporate borrowers and issuers in connection with domestic and cross-border financings and restructurings including bond offerings, securitizations, asset-based facilities, mezzanine financing, leveraged buyouts and film production financing.

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  • Education
    • LL.M., University of Manitoba, 2012
    • LL.B., University of Westminster, 2011
    • B.Sc., University of Manitoba, 2006
  • Representative experience

    Russell has recently acted for the following clients:

    • A Schedule I chartered Canadian bank in connection with a syndicated credit agreement in favour of a global firm providing for unsecured multi-currency revolving credit facilities in the principal amount of US $1 billion
    • Wells Fargo Capital Finance, LLC in connection with an amended and restated asset-based revolving facility in the amount of US $345 million in favour of PCM, Inc. and certain of its subsidiaries
    • Bank of America, N.A. in connection with a term credit agreement and amendments thereto providing for first lien term loan facilities of up to US $270 million in favour of Paladin Brands Holding, Inc. and certain other subsidiaries of International Equipment Solutions LLC
    • TransAlta Corporation in connection with the secured private placement of CAD $345 million aggregate principal amount of senior amortizing bonds for its indirect wholly owned subsidiary TransAlta OCP LP. Bondholders' security package includes an indirect priority claim over roughly 95% of each annual off-coal payment required to be made by the Government of Alberta pursuant to an off-coal agreement dated November 24, 2016, which was entered into in connection with the cessation of coal-fired emissions in Alberta, between the Government of Alberta, TransAlta Corporation and certain of its subsidiaries
    • TransAlta Renewables Inc. in connection with an internal reorganization and a CAD $260 million financing secured by wind farm assets (including a 17.25 MW expansion) in New Brunswick owned by its indirect majority-owned subsidiary Kent Hills Wind LP. This transaction won the IJGlobal North America Wind Deal of the Year Award for 2017
    • The Canadian branch of a major US bank in its commercial card agreements for various mobile pay platforms
    • Bank of America, N.A. in connection with a new senior secured asset-based credit facility of initial revolver commitments of US $65 million in favour of PSC Metals, LLC and certain of its US and Canadian subsidiaries
    • JPMorgan Chase Bank, N.A. in connection with a new senior secured asset-based credit facility of revolving commitments of US $50 million in favour of Dansons US, LLC and certain of its subsidiaries
    • The Toronto-Dominion Bank and Toronto Dominion (Texas) LLC in connection with revolving credit facilities in the principal amount of US $200 million in favour of FirstService Corporation and certain of its international subsidiaries
    • A Canadian cleantech company in the issuance of senior secured floating rate notes due January 1, 2022, in the aggregate principal amount of CAD $40 million
  • Admissions
    • Manitoba 2014
    • Ontario 2015
  • Memberships and activities
    • Canadian Bar Association
    • Law Society of Upper Canada
    • Law Society of Manitoba
    • Ontario Bar Association
  • Languages
    • English