representative work

On Deck Canada Enters into $75 Million Revolving Credit Facility with Bank of Montreal

03/23/2020

On March 23, 2020, On Deck Capital Canada, Inc., On Deck Capital Canada, ULC, and On Deck Capital Canada Holdings, Inc. (collectively, the “Borrowers”) entered into a syndicated loan agreement with Bank of Montreal, as administrative agent and a lender, providing for a revolving facility in the amount of up to $75 million (subject to further syndication), a $1.5 million hedge facility, and a $350,000 corporate credit card facility. The revolving facility includes an accordion feature and can be increased by up to $25 million.

Cassels acted as counsel for the Borrowers with a team that included Jason Arbuck, Jenna Clark and Paras Patel (Financial Services), and Andrew Reback and Chris Norton (Tax).