Shearman & Sterling represented RBC Capital Markets, LLC as sole book-running manager in MPL 2 Acquisition Canco Inc.'s offering of US$290 million aggregate principal amount of 9.875% Senior Secured Notes, in connection with the acquisition of Trader Corporation by Apax Partners L.P. from Yellow Media Group, Inc. Upon closing of the acquisition, MPL 2 Acquisition Canco Inc. was amalgamated with Trader Corporation. Shearman & Sterling also represented Royal Bank of Canada as sole lead arranger and sole bookrunner in connection with a revolving credit facility for Trader Corporation to provide ongoing working capital.

Trader Corporation is the leading online automotive marketplace and advertising platform in Canada and is the leading provider of digital marketing services to Canadian automotive dealers.

The Shearman & Sterling team included partners Jason Lehner (Toronto-Capital Markets), Michael Baker (New York-Finance) and Larry Crouch (Menlo Park-Tax); counsel Sharon Lippett (New York-Executive Compensation & Employee Benefits); associates Hugo Sin (Toronto-Capital Markets), Jacob Wilson (Toronto-Capital Markets), Daniel Weber (Toronto-Capital Markets), Christopher Ross (New York-Finance), Eileen O'Pray (Menlo Park-Tax), Anil Kalia (Menlo Park-Tax), Zahida Virani (New York-Finance), and Paul Hasan Johnson (New York-Litigation); and summer associate Bilal Choksi (Toronto-Capital Markets).