CIBC provides asset-based bankruptcy exit credit facility for Aldo

Our Montreal, Toronto, Dallas, New York, Amsterdam, Frankfurt and Luxembourg offices acted for Canadian Imperial Bank of Commerce, as agent, in respect of its senior secured asset-based bankruptcy exit credit facility for the Aldo Group of companies. 

Aldo Group, a global footwear and fashion accessories giant that operates in more than 100 countries, filed for bankruptcy protection in Canada, the US and Switzerland in 2020.  The proceeds of this complex multi-jurisdictional financing were used by Aldo Group to successfully exit from such proceedings and pay its creditors in accordance with the terms of its accepted restructuring plans, as well as for ongoing corporate purposes.