Quebec · CCAA
Application for the Issuance of A First Day Initial Order, and other measures
Application / notice of application · 29 June 2020
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What we verified from this filing5 verified
- financial positionnote: Assets stated as at December 29, 2019 (book value USD $1,762,465,000, comprising current assets ~$172,647,000 and non-current assets ~$1,589,818,000); liabilities table of principal outstanding indebtedness stated as at March 31, 2020 (total USD $1,574,849,918). The two figures use different as-at dates and are not directly comparable. · page: 30 · basis: Total assets stated as book value (consolidated); total liabilities stated as approximate principal outstanding indebtedness (consolidated) · scope: CDSE Group, consolidated basis · currency: USD · total assets: 1762465000 · total liabilities: 1574849918
- secured creditorsnote: Term Loans outstanding principal; plus accrued interest of USD $11,295,940.61 as at March 31, 2020. Principal and interest payments due that date were deferred by the Council of Representatives. · page: 32 · as of: 2020-03-31 · amount: 784725918 · debtor: Cirque du Soleil Canada Inc. and CDS U.S. Intermediate Holdings, Inc. (Borrowers), guaranteed by other Loan Parties/Applicants · creditor: First Lien Lenders (syndicate), Royal Bank of Canada as administrative and collateral agent · currency: USD · security: First priority security interest and hypothec on substantially all present and future property, equity interests, and IP rights of the Borrowers and Loan Parties
- secured creditorsnote: Revolving Credit Facility outstanding amount; includes USD $16,020,516 in letters of credit issued thereunder; interest of USD $346,800.57 and commitment fee of USD $74,864.01 payable as at March 31, 2020 were deferred. · page: 32 · as of: 2020-03-31 · amount: 100000000 · debtor: Cirque du Soleil Canada Inc. and CDS U.S. Intermediate Holdings, Inc. (Borrowers), guaranteed by other Loan Parties/Applicants · creditor: First Lien Lenders (syndicate), Royal Bank of Canada as administrative and collateral agent · currency: USD · security: First priority security interest and hypothec on substantially all present and future property, equity interests, and IP rights of the Borrowers and Loan Parties
- secured creditorsnote: Plus accrued interest of USD $3,865,463.88 as at March 31, 2020; interest payment due that date was deferred. · page: 33 · as of: 2020-03-31 · amount: 150000000 · debtor: Cirque du Soleil Canada Inc. and CDS U.S. Intermediate Holdings, Inc. (Borrowers), guaranteed by other Loan Parties/Applicants · creditor: Second Lien Lenders (syndicate); Bank of America, N.A. as administrative/collateral agent until April 3, 2020, replaced by Wilmington Trust, National Association effective May 22, 2020 · currency: USD · security: Second priority security interest and hypothec on substantially all present and future property, equity interests, and IP rights of the Borrowers and Loan Parties
- secured creditorsnote: Related party: Trapeze LP's equity sponsors include existing CDSE Group shareholders TPG, CDPQ and Fosun, together with Investissement Québec (IQ). Facility is a senior secured multi-draw term loan of up to USD $50,000,000 (facility limit); outstanding principal referenced as approximately $50,000,000 to be repaid at Closing (referred to as "CDS 4 Term Loan"). · page: 38 · as of: Closing Date under Stalking Horse APA · amount: 50000000 · debtor: CDS LP4 (borrower), guaranteed by CDS Canada 3 L.P., 9415-8235 Québec Inc. and 9415-8227 Québec Inc. (Trapeze Term Loan Guarantors) · creditor: Trapeze Holdings Limited Partnership ("Trapeze LP") · currency: USD · security: Movable hypothec on substantially all movable property of CDS LP4 and the Trapeze Term Loan Guarantors