Maria Sagan Photo
Maria Sagan Photo
Maria Sagan Photo

Maria Sagan is a highly respected financial services lawyer with over ten years of practice experience representing both borrowers and lenders.  Her expertise is in domestic, cross-border and multi-jurisdictional financings, and she routinely acts for major Canadian banks, foreign banks, private equity firms and domestic and international corporations.

Drawing on broad experience, Maria advises on secured and unsecured lending, asset-based lending, acquisition finance, derivative and structured transactions, securitizations, syndicated lending and debtor-in-possession (DIP) financing.

She has been recognized by the Secured Finance Network’s Top 40 under 40 for her contributions to the secured finance industry, and by the Secured Finance Network’s The Secured Lender as a leading woman in the commercial finance industry for her excellence and dedication to client service. Maria is ranked a rising star in financial services regulatory and banking by the IFLR1000 Financial and Corporate Guide.

Maria served a secondment with the derivatives legal group of a leading Canadian bank, gaining valuable insight into the negotiation of derivatives contracts with international financial institutions.

Maria is currently a member of the Board of Directors of the Association for Corporate Growth, Toronto Chapter and the Co-Chair of its Young Professionals Committee.


Expertise

Industries

Practices


Representative Matters

  • Counsel to a major US bank in connection with a US$2 billion financing to an international chemical manufacturer
  • Acted for a major US bank in connection with a US$1.75 billion financing to an international equipment leasing company
  • Counsel to a major US bank in connection with a US$1.5 billion financing to a multinational agency
  • Advised a major US private equity firm in connection with a $70 million acquisition financing of a Canadian healthcare company
  • Counsel to a major Canadian bank in connection with a US$500 million revolving credit facility to a Canadian-based real estate investment corporation
  • Advised a major US bank in connection with a US$380 million revolving and term credit facility to a Canadian-based construction company
  • Counsel to a US-based manufacturing corporation in connection with a US$1.125 billion syndicated revolving credit facility, term credit facility and note purchase agreement
  • Counsel to an American manufacturing corporation in connection with a US$500 million revolving loan

News


Rankings & Recognition

  • Recognized in the 2024 Canadian Legal Lexpert Directory as a Repeatedly Recommended Lawyer in the area of Banking & Financial Institutions
  • Winner of The Secured Finance Network’s (“SFNet”) 2022 40 Under 40 Award
  • Recognized by 2022 Edition of The Secured Lender’s Women in Finance Issue as a Leading Woman in Secured Finance
  • Received the Secured Finance Network’s Top 40 under 40 Award for 2022
  • Recognized by the Secured Finance Network’s The Secured Lender’s Women in Secured Finance issue, April 2022
  • Recognized by IFLR1000 Financial and Corporate Guide 2022as a Rising Star in the areas of Banking and Financial Services Regulatory
  • Recognized by IFLR1000 Financial and Corporate Guide 2021as a Rising Star in the areas of Banking and Financial Services Regulatory
  • Recognized by IFLR1000 Financial and Corporate Guide 2020 as a Rising Star in Financial Services Regulatory and Banking
  • Recognized by IFLR1000 Financial and Corporate Guide 2019 as a Rising Star in Financial Services Regulatory

Directorships & Affiliations

  • Association for Corporate Growth (ACG), Toronto Chapter, Director (2021 – present)
  • Association for Corporate Growth (ACG), Toronto Chapter, Young Professional’s Committee (2016 – present)
  • Canadian Bar Association
  • Ontario Bar Association

Education & Admissions

2011
Called to the Ontario bar
2010
JDOsgoode Hall Law School
2007
Specialized Honours BA (summa cum laude)York University

Publications

Insights (18 Posts)View More

Featured Insight

The End of LIBOR: The Grand Finale (or is it?)

All remaining tenors of USD LIBOR ceased being published on June 30, 2023; synthetic USD LIBOR and the LIBOR Act are available for legacy contracts.

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Jul 4, 2023
Featured Insight

Government of Canada Seeks Input on Updating Canada’s Anti-Money Laundering and Terrorist Financing Regime

The Government of Canada has launched public consultations on updating Canada's anti-money laundering and terrorist financing regime.

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Jun 21, 2023
Featured Insight

Proposed Updates to Canada’s Anti-Money Laundering and Terrorist Financing Regime

Finance Canada's proposed changes relating to anti-money laundering and armoured car companies, mortgage lenders, and money service businesses.

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Jun 7, 2023
Featured Insight

Secured Lending in Canada: A Guide for U.S. Lenders

A guide to secured lending in Canada; summarizes regulatory matters, tax, security, insolvency and restructuring issues in Canada.

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Jun 1, 2023
Featured Insight

Term CORRA Officially Under Development

1- and 3- month Term CORRA under development; targeted publication date is at end of Q3 2023; Term CORRA administrator will be CanDeal Innovations Inc.

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Jan 30, 2023
Featured Insight

The End of LIBOR/The Beginning of SOFR: October 2022 Update

USD LIBOR will end June 30, 2023. We discuss LIBOR discontinuation timelines, recent development with respect to SOFR and approaches to replacing LIBOR.

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Oct 20, 2022
Featured Insight

June 28, 2024 – CDOR will be no more

CDOR to cease being published after June 28, 2024; Term CORRA to be potentially created; market participants need to prepare for end of CDOR now.

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Jun 21, 2022
Featured Insight

The End of LIBOR: January 2022 Update

As of December 31, 2021, most LIBOR tenors ceased; some USD LIBOR tenors to continue until June 30, 2023; some GBP and JPY tenors published on synthetic basis.

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Jan 31, 2022
Featured Insight

Cash is King – Taking Control over Cash Collateral

In secured lending transactions, a debtor's cash may form part of the lender's general security or may be deposited with a financial institution to support certain contingent obligations (such as outstanding letter of credits)

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Jan 18, 2022
Featured Insight

Start of a New Term: ARRC Recommends CME Group’s Term SOFR

ARRC formally recommends CME Term SOFR. Term SOFR works similar to LIBOR and is the preferred RFR for business loans.

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Sep 7, 2021
Featured Insight

SOFR Fundamentals: What We Know SO-FAR

SOFR is the preferred USD alternative RFR to LIBOR. We discuss what SOFR is, the types of SOFR, conventions for SOFR, and using SOFR in loan agreements.

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Jul 21, 2021
Featured Insight

LIBOR Newsflash: FCA Announces Dates for Official Cessation and Loss of Representativeness of LIBOR

FCA announces dates for the official cessation and loss of representativeness of LIBOR. Implications for Lenders.

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Mar 10, 2021
Featured Insight

LIBOR Newsflash: Announcement on Official Cessation of LIBOR is Expected Soon

IBA and FCA expected to make announcement about the official cessation of LIBOR. Timelines for ceasing new issuances of LIBOR loans.

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Feb 18, 2021
Featured Insight

The Phase-Out of LIBOR: A Primer

Overview of LIBOR; why it is problematic; alternative benchmark rates; readiness of loan market for transition away from LIBOR; and fall-back language

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Sep 10, 2019
Featured Insight

Proposed PPSA and RSLA Amendments Clarify Debtor Location Rules and Make VINs Paramount for Motor Vehicle Registrations

Proposed PPSA and RSLA Amendments Clarify Debtor Location Rules and Make VINs Paramount for Motor Vehicle Registrations

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Oct 10, 2017
Featured Insight

Does the MAC Have Your Back? The Use of Material Adverse Change Clauses in Canadian Loan Agreements

Does the Mac Have Your Back? The Use of Material Adverse Change Clauses in Canadian Loan Agreements

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Feb 16, 2017
Featured Insight

Where’s Waldo: New Ontario PPSA Debtor Location Rules Finally Coming into Force

Where's Waldo: New Ontario PPSA Debtor Location Rules Finally Coming into Force

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Nov 3, 2015
Featured Insight

Can I be excused? Canadian regulators publish consultation paper on end-user exemptions in the OTC derivatives market

Can I be excused? Canadian regulators publish consultation paper on end-user exemptions in the OTC derivatives market

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Apr 19, 2012

Deals & Cases (5 Posts)

Featured Insight

Nufarm Limited Secures Loans to Refinance Working Debt Facilities

McMillan represented the Canadian loan parties, with a team led by Jeff Rogers and Maria Sagan and included Christina Kim and Meagan Moulton, in connection with this cross-border transaction

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Nov 15, 2022
Featured Insight

Frontera Energy Issued US$400 Million in Senior Unsecured Notes

Frontera Energy Corporation (“Frontera”) (TSX:FEC) issued US$400 million in senior unsecured notes due in 2028 at a coupon rate of 7.875% and a related tender offer to repurchase, at a premium, the Company’s US$350 million 9.7% senior secured notes due in 2023.

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Jun 21, 2021
Featured Insight

Thoma Bravo acquires autoTRADER Corporation for C$1.575 billion

Thoma Bravo acquires autoTRADER Corporation for C$1.575 billion

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Sep 28, 2016
Featured Insight

Thoma Bravo to Acquire TRADER Corporation

Thoma Bravo to Acquire TRADER Corporation

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Jul 1, 2016
Featured Insight

CCL Industries Completes Acquisition of Two Businesses from Avery Dennison

On July 1, 2013, CCL Industries Inc. ("CCL"), a specialty label and packing solution company

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Jul 1, 2013