On July 30, 2018, a syndicate of banks, including BMO Bank of Montreal (“BMO”) (TSE: BMO) acting as lead arranger, syndication agent and administrative agent, completed an amended and restated $210 million loan arrangement to Westman Village for the second phase of a mixed-use community development in Calgary. The loan consisted of real estate term facilities, a swingline facility, and a letter of credit facility to finance the development of new condominiums, apartments, retail, a senior’s living centre and an amenity centre.
Founded in 1817 in Montréal, BMO is a Canadian multinational banking and financial services corporation. One of the Big Five banks in Canada, it is the 4th largest bank in Canada by market capitalization and assets, as well as one of the 10 largest banks in North America.
Miller Thomson advised BMO in its capacity as lead arranger, syndication agent and administrative agent with a team led by Michael Morcom, and included Stefan Mirkovic (Financial Services), Joshua Selby, and Arthur Opalinski (Real Estate).