Shearman & Sterling represented Credit Suisse Securities (USA) LLC, as co-bookrunner and joint lead arranger, and Credit Suisse, as co-administrative agent and co-collateral agent, with respect to a $800 million exit financing, consisting of a $450 million term credit facility and a $350 million asset-based revolving credit facility for World Color Press Inc. (successor in interest to Quebecor World Inc.) and certain of its affiliates. Of the $800 million exit financing, approximately US$534 million and C$59 million was drawn to repay Quebecor's debtor-in-possession financing facility for which Credit Suisse, represented by Shearman & Sterling, served as administrative agent. The exit financing is in connection with the emergence of certain of World Color Press Inc.'s affiliates from Chapter 11 proceedings and the simultaneous emergence of World Color Press Inc. and certain of its affiliates from CCAA proceedings in Canada. Shearman & Sterling's Bankruptcy & Reorganization and Finance groups worked together closely in structuring, drafting and negotiating the loan documentation and closing the transaction.

The Shearman & Sterling team included partners Douglas P. Bartner (New York-Bankruptcy & Reorganization), Ronald M. Bayer (New York-Finance), David J. Beveridge (New York-Capital Markets), Monica L. Holland (New York-Finance), Don J. Lonczak (Washington, DC-Tax), Malcolm K. Montgomery (New York-Property) and Andrew V. Tenzer (New York-Bankruptcy & Reorganization); counsel Jeffrey L. Salinger (New York-Property/Environmental); associates Gloria Jung (New York-Intellectual Property), Danielle Kalish (New York-Bankruptcy & Reorganization), Ryan C. Knutson (New York-Property), Courtney E. Lemli (New York-Finance), Joanna P. Leung (New York-Finance), Eva A. Rasmussen (New York-Executive Compensation & Employee Benefits), Kevin Roggow (New York-Capital Markets), Christian Rudloff (New York-Property), G. Matthew Tsiaras (Washington, DC-Tax), Gregory C. Wyckoff (New York-Finance) and Debra D. Yang (New York-Finance); specialist Marian D. Luketic (New York-Bankruptcy & Reorganization); senior legal assistant Yariv Katz (New York-Property); and legal assistants Sunita Daswani (New York-Finance), James Lik (New York-Intellectual Property) and Jennifer Lin (New York-Bankruptcy & Reorganization).