David E. Thring 

David E. Thring

Toronto
Brookfield Place, Suite 4400
181 Bay Street
Toronto, Ontario M5J 2T3

t: 416.307.4028
e: david.thring@mcmillan.ca

overview

David Thring is a partner in the firm's Financial Services Group.

His practice focuses corporate debt financing and banking. He acts for financial institutions, both Canadian and foreign, and borrowers on cross-border secured loans, project finance, asset-based lending, securitizations and subordinated debt financing. He also acts for private equity and venture capital investors and issuers.

David also provides business law advice to domestic and international clients regarding commercial and contractual matters, acquisitions and divestitures, governance and restructuring. He has advised clients in the manufacturing, retail, technology, service and health disciplines sectors, not-for-profit corporations, hospitals and Ministries of the Ontario government.

Representative Matters

  • Acted as Canadian counsel on behalf of Citibank, N.A., as collateral agent, and the lenders on U.S. $4.3 billion first lien credit facilities provided to Chrysler Group LLC and its subsidiaries and the purchase of U.S. $3.2 billion second lien notes issued by Chrysler Group LLC.
  • Acted as Canadian counsel for a U.S. issuer and its Canadian subsidiary on a cross-border private placement of senior secured notes of US$130.5 million and C$76 million, secured by toll revenues of an international bridge.
  • Acted for a secured creditor, Royal Bank of Scotland, N.V. (Canada) Branch, on the insolvency of Nortel Networks Limited.
  • Advised a foreign bank and a Canadian financial institution on the restructuring of non-bank issuers of asset-backed commercial paper.
  • Has advised government and non-government sponsors on procurement and finance of public infrastructure, including hospitals and bridges.
  • Acted on behalf of a leading Canadian manufacturer on the acquisition and financing of new businesses in Europe, South America, the US, China and Canada.

Presentations

How To Review A Credit Facility
Legal Issues for Carbon-Trading Agreements
Public-Private Partnerships – Understanding Benefits and Minimizing Risks
Standardized Procurement Practices and Standardization of PPP Contracts

Publications

Can the New Crowdfunding Exemption Be Used for Debt Securities?
International Payments in RMB
Acquisition Financing - Lexis Practice Advisor Canada
Business subsidies in Ontario: An overview
Crowdfunding – Could it help finance innovation in Canada?
California launches cap and trade – will other WCI jurisdictions follow?
The Long Road to a Kyoto Successor: COP15 – Goals and Hurdles
Update on Cap And Trade
Carbon Credits as Collateral
Law Note - Reporting of Greenhouse Gas Emissions
The Emerging Canadian Carbon Market: New Fundamentals and Opportunities
Licences as Property or Collateral
Asset-Backed Commercial Paper: Canadian Lessons
Law Note - Suing on a Demand Note: Marking Time
Multi-Nationals: Financing of Special Dividends
Financial Incentives for Development of Wind Energy in Ontario

News

22 McMillan lawyers recognized in the 2020 IFLR1000 Financial and Corporate Guide
71 McMillan Lawyers Named in the 2020 Edition of Best Lawyers in Canada
23 McMillan lawyers recognized in 2019 IFLR1000 Financial and Corporate Guide
32 McMillan lawyers recognized in Who's Who Legal Canada 2018
33 McMillan lawyers recognized in Who's Who Legal Canada 2017
Margaret McNee recognized as Mutual Funds Lawyer of the Year, along with 58 McMillan Lawyers in the 2018 Best Lawyers in Canada Report
McMillan lawyers recognized in Who's Who Legal: Canada 2016
61 McMillan lawyers recognized in The Best Lawyers in Canada 2017
60 McMillan lawyers recognized in the 10th Edition of The Best Lawyers in Canada
Who's Who Legal: Canada 2014 recognizes 17 McMillan lawyers
McMillan lawyers recognized in the 2015 Best Lawyers in Canada
Who's Who Legal: Canada 2013 recognizes 21 McMillan lawyers
49 McMillan lawyers recognized in the 2014 Best Lawyers in Canada
47 McMillan lawyers recognized in the 2013 Best Lawyers in Canada
Who's Who Legal: Canada 2011 recognizes 25 McMillan lawyers
50 McMillan Lawyers recognized in the 2012 Best Lawyers in Canada

Education

  • University of Toronto, LLB - 1979
  • University of Western Ontario, BA (Hons. Economics and Political Science) - 1976
  • University of Toronto, Certificate of Achievement in Carbon Finance - 2010

Year Of Call

  • Called to the Ontario bar - 1981

Practices

financial services
secured lending and syndicated finance
acquisitions and divestitures
corporate finance
negotiated transactions
project finance
venture capital
structured finance, securitization and derivatives
corporate governance

Industries

banking, finance and insurance
private equity - buyouts & venture capital investment
infrastructure
renewables
manufacturing, distribution and retail

Directorships and Professional Associations

  • Canadian Bar Association, Business Law Section
  • Ontario Bar Association
  • Canadian Council for Public-Private Partnerships
  • Toronto Rehabilitation Institute (past Chair, Board of Directors) 

Community Involvement

  • Member, Capital Redevelopment Committee, The New Women's College Hospital, Toronto

Awards & Rankings

  • Recognized by IFLR1000 Financial and Corporate Guide 2020 as a Notable Practitioner in Banking and Finance
  • Recognized by Best Lawyers in Canada (2020) as a leading lawyer in the area of Banking & Finance Law
  • Recognized by IFLR1000 Financial and Corporate Guide 2019 as a Notable Practitioner in Banking and Finance
  • Listed in Who’s Who Legal Canada: 2018 as a leader in Banking
  • Listed in The Best Lawyers in Canada (2019) as a leader in Banking & Finance Law
  • Listed in The Best Lawyers in Canada (2018) as a leader in Banking & Finance Law
  • Listed in Who's Who Legal: Canada 2017 as a leading in Banking Law
  • Listed in Who's Who Legal: Canada 2016 as a leading in Banking Law
  • Listed in Who's Who Legal: Canada 2015 as a leading in Banking Law
  • Listed in Who's Who Legal: Canada 2014 as a leading in Banking Law

Media Mentions

vcard

David Thring is a partner in the firm's Financial Services Group.

His practice focuses corporate debt financing and banking. He acts for financial institutions, both Canadian and foreign, and borrowers on cross-border secured loans, project finance, asset-based lending, securitizations and subordinated debt financing. He also acts for private equity and venture capital investors and issuers.

David also provides business law advice to domestic and international clients regarding commercial and contractual matters, acquisitions and divestitures, governance and restructuring. He has advised clients in the manufacturing, retail, technology, service and health disciplines sectors, not-for-profit corporations, hospitals and Ministries of the Ontario government.

  • Acted as Canadian counsel on behalf of Citibank, N.A., as collateral agent, and the lenders on U.S. $4.3 billion first lien credit facilities provided to Chrysler Group LLC and its subsidiaries and the purchase of U.S. $3.2 billion second lien notes issued by Chrysler Group LLC.
  • Acted as Canadian counsel for a U.S. issuer and its Canadian subsidiary on a cross-border private placement of senior secured notes of US$130.5 million and C$76 million, secured by toll revenues of an international bridge.
  • Acted for a secured creditor, Royal Bank of Scotland, N.V. (Canada) Branch, on the insolvency of Nortel Networks Limited.
  • Advised a foreign bank and a Canadian financial institution on the restructuring of non-bank issuers of asset-backed commercial paper.
  • Has advised government and non-government sponsors on procurement and finance of public infrastructure, including hospitals and bridges.
  • Acted on behalf of a leading Canadian manufacturer on the acquisition and financing of new businesses in Europe, South America, the US, China and Canada.
January 2016
Can the New Crowdfunding Exemption Be Used for Debt Securities?
Financial Services Bulletin
March 2015
International Payments in RMB
Financial Services Bulletin
August 2014
Acquisition Financing - Lexis Practice Advisor Canada
Co-author (with Stephanie Robinson), LexisNexis Canada Inc.
October 2012
Business subsidies in Ontario: An overview
Financial Services Bulletin
April 2012
Crowdfunding – Could it help finance innovation in Canada?
Financial Services Bulletin
December 2011
California launches cap and trade – will other WCI jurisdictions follow?
energy and emissions trading bulletin
Winter 2010
The Long Road to a Kyoto Successor: COP15 – Goals and Hurdles
Lang Michener LLP Environment, Energy and Emissions Trading Brief Winter 2009/2010
Fall 2010
Update on Cap And Trade
Environment, Energy & Emissions Trading Brief Winter 2010/2011
Fall 2010
Carbon Credits as Collateral
InBrief Fall 2010 and Environment, Energy & Emissions Trading Brief Summer 2010
Spring 2010
Law Note - Reporting of Greenhouse Gas Emissions
InBrief Spring 2010
Summer 2009
The Emerging Canadian Carbon Market: New Fundamentals and Opportunities
Lang Michener LLP Environment, Energy and Emissions Trading Brief Summer 2009
Spring 2009
Licences as Property or Collateral
Lang Michener InBrief Spring 2009
Spring 2008
Asset-Backed Commercial Paper: Canadian Lessons
Lang Michener LLP InBrief Spring 2008
Spring 2007
Law Note - Suing on a Demand Note: Marking Time
Lang Michener LLP InBrief Spring 2007
May 2005
Multi-Nationals: Financing of Special Dividends
Canadian Treasurer, April/May 2005.
March 2005
Financial Incentives for Development of Wind Energy in Ontario
Lang Michener LLP In Brief March 2005
May 7, 2015
How To Review A Credit Facility
Webinar, Canadian Corporate Counsel Association
June 2, 2010
Legal Issues for Carbon-Trading Agreements
Lang Michener Seminar, Greenhouse Gas Emissions – Issues Every User of Real Estate Will Need to Face
June 21, 2008
Public-Private Partnerships – Understanding Benefits and Minimizing Risks
2008 TerraLex North American/South American Regional Meeting, Denver
November 23, 2004
Standardized Procurement Practices and Standardization of PPP Contracts
2004 National Conference of The Canadian Council for Public-Private Partnerships