On December 22, 2020, Toronto Waterfront Studios Development Inc. (“TWSDI”) entered into a syndicated credit agreement with The Bank of Nova Scotia as administrative agent, lead arranger and sole bookrunner, providing for a $50 million secured credit facility in order to finance a 170,000 sq. ft. expansion of a film and television production purpose-built facility. The credit facility has a two year term and is made up of a non-revolving term credit facility and a swingline sub-facility.
Cassels acted as counsel for TWSDI and its affiliates, with a deal team that included Colin Ground, Jeff Mikelberg and Jackie Karbi (Private Equity and M&A), Charles Newman, Amanda Scolieri and Paras Patel (Banking & Specialty Finance), and Jonathan Freeman (Real Estate & Development).