On September 26, 2006, Commercial Alcohols Inc. (which has since changed its name to GreenField Ethanol Inc.) completed a $130 million senior secured credit facility with a syndicate of lenders in which The Bank of Nova Scotia and Royal Bank of Canada acted as co-lead arrangers and the Bank of Nova Scotia acted as administrative agent.

The credit facility continues GreenField’s existing credit facility and provides additional financing to assist with the construction of GreenField’s 120 million litre per year fuel ethanol plant in Varennes, Quebec and with other capital projects, including preliminary development of two further ethanol plants in Ontario. GreenField also obtained additional senior subordinated financing from Royal Bank of Canada, through its division RBC Capital Partners.

The senior lending syndicate was represented by Borden Ladner Gervais LLP, with a team that included James Mathers, Pierre Côté and Stephen Redican.