On June 28, 2006, Pope&Talbot Ltd. completed a refinancing of its existing debt. The new syndicated credit facility was arranged by Lehman Brothers Inc., with Lehman Commercial Paper Inc acting as syndication agent, Wells Fargo Financial Corporation Canada acting as administration agent, and Ableco Finance LLC acting as collateral agent. The credit facility is made up of a $75 million operating facility and a $250 million term facility, which paid out the existing syndicated credit facilities led by The Toronto-Dominion Bank and a receivables purchase arrangement with The Toronto-Dominion Bank, as well as provided for increased operating funds. Pope&Talbot Ltd. was represented in Canada by Borden Ladner Gervais LLP in Vancouver, with a team led by Don Bird and including Tim Sehmer, Ken Andersen and Martha Bruce (lending); Mark Lewis (real estate); Bruce Sinclair (tax); Debra Sing (pension); Carleigh Whitman (environmental) and Steven McKoen (securities), and assisted in Toronto by Stephen Redican.