International team advises Laurentian Bank on its acquisition of Northpoint Commercial Finance

Our Montréal, New York, Toronto, Washington and Dallas offices advised Laurentian Bank in its acquisition of Northpoint Commercial Finance, a leading US and Canadian inventory finance lender, with approximately C$1.1bn of assets, and contemporaneous refinancings. Laurentian Bank financed the Acquisition through existing balance sheet liquidity, a $215,640,700 public offering of subscription receipts, which included the proceeds of the underwriters’ over-allotment option which was exercised in full (the Subscription Receipt Offering) and a $25,000,052 private placement of subscription receipts to Caisse de dépôt et placement du Québec. 

In connection with the closing of the Acquisition, Laurentian Bank also caused the refinancing of Northpoint’s existing US dollar and Canadian dollar bank facilities, and the early redemption of Northpoint’s outstanding securitization conduit notes.

The team was led by Marc Duquette and included Pete Wiazowski, Meghan Stewart, Ryan Apar, Ellen Curnes and Viviane Albuquerque (M&A); Solomon Sananes, Patrick Dolan, Amélie Métivier, Michelle Felsky, and Rachel Lesmerises (Securities and Finance); Kathleen Scott and Christine Dubé (Regulatory); Derek Chiasson and Michael Flamenbaum (Tax); Thierry Dorval and Dan Wellington (Competition and Antitrust); and Anne Gallop and Neil Sparber (Employment).