Ted Maynard Quoted in Lexpert Guide

Corporate partner Ted Maynard was quoted in three articles appearing in Lexpert's 2010 Guide to the Leading U.S./Canada Cross-Border Corporate Lawyers in America.

"The Resource Rush Begins" discusses resource consolidation in Canada, which has flourished despite the economic downturn, particularly due to bidding by Chinese companies. The article mentions Paul, Weiss client Teck Resources Limited's $14.1 billion acquisition of Fording Canadian Coal Trust and subsequent Rule 144A offering of $4.2 billion of senior secured notes and $1.5 billion investment by China Investment Corporation. Ted notes that "the deal involved an unusual and innovative collateral structure whereby holders of the company's bank debt, its 144A high-yield debt and its previously issued public investment-grade debt all share in the same collateral on an equal and ratable basis."

"Dealing with the Dollars" discusses systems for managing currency exchange risks in the integrated North American economy. Ted comments that "there are companies that spend a significant amount of time analyzing their revenue base and trying to align expenses so that they can eliminate the foreign exchange exposure... Some companies with a great deal of U.S. revenue may well decide to raise capital in U.S.-dollar-denominated debt so that they can use their U.S. revenue to pay off interest and principal costs."

"A Complicated Comeback" discusses the M&A market's recovery and the variety of factors involved in its rebound, one sign of which is the acquisition of Canadian companies by U.S.-based equity funds. Ted says that "the U.S. private equity firms are likely going to be interested in Canadian opportunities as there may be stronger, healthier companies to look at."