Quebec · CCAA
First Report to the Court Submitted by Deloitte Restructuring Inc. in its Capacity as Proposed Monitor
Pre-filing report · 7 September 2020
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What we verified from this filing2 verified
- financial positionnote: Figure represents total secured and unsecured creditors ($358.5M) per Groupe Dynamite's books and records as of the date of the Report; no total asset figure stated in the document · page: 7 · as at: 2020-09-07 · basis: Groupe Dynamite's books and records, unaudited · scope: Consolidated - Groupe Dynamite Inc. and GRG USA LLC (main creditors table) · currency: CAD · total liabilities: 358500000
- secured creditorsnote: Validity, opposability and rank of this indebtedness/security not yet independently reviewed by the Proposed Monitor; subject to a forbearance agreement in force until October 3, 2020 · page: 8 · as of: 2020-09-07 · amount: 138500000 · debtor: Groupe Dynamite Inc. (GDI), guaranteed by GRG USA Holdings Inc. and GRG USA LLC · creditor: Bank syndicate (National Bank of Canada, as agent, Bank of Montreal, The Toronto-Dominion Bank, and Fédération des Caisses Desjardins du Québec) · currency: CAD · security: First ranking security on all movable property of each of GDI, GRG Holdings and GRG LLC (subject to certain exceptions); facility limits comprised of a revolving facility of up to $115M (currently temporarily reduced), a swingline facility of up to $10M, and a term loan of $100M, per credit agreement dated Feb 28, 2020, amended April 30, 2020 and July 3, 2020