Fried Frank is representing funds affiliated with Onex Corporation as US counsel and in connection with the financing for the acquisition of WestJet Airlines. The financing includes (1) a first lien senior secured term loan B facility of C$3.1 billion (in US dollars) and (2) a first lien senior secured revolving credit facility of US$350 million, with Barclays Bank as administrative agent and Barclays Bank, Morgan Stanley Senior Funding, and Royal Bank of Canada as joint lead arrangers and joint bookrunners.
WestJet Airlines is a leading Canadian airline providing service to over 100 destinations in Canada, the United States, Europe, Mexico, Central America, and the Caribbean.
Headquartered in Toronto, Onex Corporation is a leading private equity firm with approximately US$31 billion of assets under management.
The Fried Frank team was led by corporate partners Daniel J. Bursky and Mark S. Hayek and included corporate partners Ezra Schneck and David L. Shaw; corporate special counsel Michael Schneider; corporate associates Matthew R. Friedman, Jason D. Meyers, and Charles Stern; and corporate law clerk Joann S. Park.