Sequeira Partners acted as financial advisor to Noralta Lodge Ltd. (“Noralta”) in sourcing a new senior secured credit facility for the purposes of issuing a tender offer to repurchase a material portion of its publicly traded debentures. The tender offer closed in November 2016.
Description of Transaction
Sequeira Partners was engaged as financial advisor to Noralta Lodge in sourcing and negotiating a new senior secured syndicated facility for the purposes of retiring high yield publicly traded debentures. Sequeira assisted Noralta in sourcing, cash flow modeling, and negotiating financing terms.
The recapitalization, tender offer, and repurchase of debentures allowed Noralta to retire a significant portion of its high yield publicly traded debentures at a discount to par value, which ultimately reduced the Company’s total indebtedness and ongoing financing costs.
Noralta supplies and operates remote industrial lodges in Northern Alberta and is an industry leader in the provision of clean and private accommodations, high quality foodservice and a premium guest experience. The Company constructs its own lodges and currently owns and operates nine lodges, comprised of two lodges in North Central Alberta and seven lodges in North Eastern Alberta serving the Fort McMurray area.