Russell Dufault

Partner
Norton Rose Fulbright Canada LLP

Toronto
Canada
T:+1 416 216 4029
Toronto
Canada
T:+1 416 216 4029
Russell Dufault

Russell Dufault

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Biography

Russell Dufault practises in all areas of transactional banking and corporate finance matters, with an emphasis on cross-border and multi-jurisdictional structured financings. Russell's experience includes acting for domestic and international commercial banks, non-bank financial institutions, alternative and private credit providers, private equity funds and sponsors, as well as corporate borrowers and issuers, in connection with senior and subordinated debt, asset-based and cash flow facilities, syndicated and club financings, leveraged financings, bridge loans, term lending, securitizations, high-yield debt offerings, debt capital markets transactions, restructuring matters and other forms of debt financing.

He acts for clients in financings across a range of industries including retail and brands, healthcare, manufacturing, aerospace, shipping and aviation. Russell also has experience advising financial institutions in connection with regulatory and compliance-related matters and payments transactions.

Professional experience

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LL.M., University of Manitoba, 2012

LL.B., University of Westminster, 2011

B.Sc., University of Manitoba, 2006

  • Ontario 2015
  • Manitoba 2014

Russell has recently acted for the following clients:

  • A Canadian public company in connection with a C$2.75 billion credit facility provided by a syndicate of lenders
  • A Schedule I chartered Canadian bank in connection with a syndicated credit agreement in favour of a global firm providing for unsecured multi-currency revolving credit facilities in the principal amount of US$1 billion
  • Wells Fargo Capital Finance, LLC in connection with an amended and restated asset-based revolving facility of US$345 million in favour of PCM, Inc. and certain of its subsidiaries
  • Bank of America, N.A. with a term credit agreement and amendments thereto providing for first lien term loan facilities of up to US$270 million in favour of Paladin Brands Holding, Inc. and certain other subsidiaries of International Equipment Solutions LLC
  • RBC Capital Markets, LLC in connection with a senior secured note purchase transaction by a confidential issuer in the aggregate amounts of US$147 million and C$128 million
  • TransAlta Corporation in connection with the secured private placement of C$345 million aggregate principal amount of senior amortizing bonds for its indirect wholly owned subsidiary TransAlta OCP LP. Bondholders' security package includes an indirect priority claim over roughly 95% of each annual off-coal payment required to be made by the Government of Alberta pursuant to an off-coal agreement dated November 24, 2016, which was entered into in connection with the cessation of coal-fired emissions in Alberta, between the Government of Alberta, TransAlta Corporation and certain of its subsidiaries
  • TransAlta Renewables Inc. with an internal reorganization and a C$260 million financing secured by wind farm assets (including a 17.25 MW expansion) in New Brunswick owned by its indirect majority-owned subsidiary Kent Hills Wind LP. This transaction won the IJGlobal North America Wind Deal of the Year Award for 2017
  • The Canadian branch of a major US bank in its commercial card agreements for various mobile pay platforms
  • Bank of America, N.A. with a new senior secured asset-based credit facility of initial revolver commitments of US$65 million in favour of PSC Metals, LLC and certain of its US and Canadian subsidiaries
  • JPMorgan Chase Bank, N.A. in connection with a new senior secured asset-based credit facility of revolving commitments of US$50 million in favour of Dansons US, LLC and certain of its subsidiaries
  • Best Lawyers: Ones to Watch in Canada: Banking and Finance Law, 2023-2024
  • Canadian Legal Lexpert Directory, 2024: recommended in Asset-based lending, Banking & Financial Institutions
  • Canadian Bar Association
  • Law Society of Upper Canada
  • Law Society of Manitoba
  • Ontario Bar Association
  • English

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