Steven Marmer is an experienced financial services lawyer in McMillan’s Toronto office. He practices finance law, corporate and commercial law with a focus on a diverse range of financial transactions including acquisition financing, cross-border transactions, securitization, restructuring, asset-based loans, technology and start-up financing.

Steven’s experience includes representing a variety of private and public companies, Canadian and US banks and private financial institutions on a range of domestic and cross-border commercial lending transactions.

Steven is routinely involved with drafting and negotiating credit agreements, commitment letters, security agreements, guarantees, payoff letters, inter-creditor agreements, opinions and other financing-related documents.

Steven is a coauthor of the 2022 and 2023 editions of The Acquisition and Leveraged Financial Review published by The Law Reviews

Representative Matters

  • Acted for a Canadian bank, as agent and the syndicate of lenders, in connection with a CAD$1.0 billion credit facility for a publicly traded company.
  • Acted for a number of Canadian and international banks establishing their template CORRA credit agreements.
  • Acted for the ownership team in a successful leveraged buyout of a technology company.
  • Acted for a syndicated loan totaling USD$1.95 billion for the acquisition and privatization of a portfolio of real estate, consisting of 190 commercial properties held by 190 single-purpose entities. Represented senior loan lenders, senior loan administrative agent, mezzanine loan lenders, mezzanine loan administrative agent and collateral agent.
  • Acted for a U.S. bank providing acquisition financing for the merger of two cyber-security firms for a transaction valued at $900 million.
  • Acted for a U.S. private equity firm providing a $750 million loan, the largest single-sourced loan to a Canadian cannabis company.
  • Acted for a publicly traded industrials company obtaining $700 million financing from the Canada Infrastructure Bank to develop green synergizes in the production of commodities and assisting Canada in meeting the reduction of its greenhouse gas emissions.
  • Acted for a U.S. private equity firm providing $650 million loan to the largest Canadian gym operator.
  • Acted for a Canadian bank, as lender, in connection with aircraft financing for a borrower.
  • Acted for a publicly traded Canadian mortgage provider establishing a new warehouse facility for $200 million.
  • Acted for a syndicate of Canadian banks providing real estate financing for project development of a vacation resort valued at $275 million.
  • Acted for a publicly traded wine and spirts company upsizing its credit agreement to $275 million.
  • Acted on behalf of a private equity firm for the establishment of a revolving credit facility for acquisitions.
  • Acted for three Canadian banks and over two dozen different borrowers establishing new facilities ranging in size from $2–$20 million.

Directorships & Affiliations

  • Law Society of Ontario
  • Canadian Bar Association
  • Ontario Bar Association

Education & Admissions

Called to the Ontario Bar
JD (cum laude)University of Ottawa
H.B.A. (summa cum laude)York University

Insights (3 Posts)View More

Featured Insight

The Great Rate Escape: Commercial Loans No Longer Criminal

The government of Canada has proposed changes to the criminal code which would exclude commercial and pawn loans from the criminal rate of interest.

Read More
Jan 8, 2024
Featured Insight

Remember, Remember, the 1st of November; Navigating the November 1st Deadline in the CDOR Transition and Term CORRA’s Launch

Navigating the November 1, 2023 Deadline in the CDOR Transition and Term CORRA’s Launch.

Read More
Aug 15, 2023
Featured Insight

Interesting Changes to Interest Rates

For the first time in over 40 years, Canada is making changes to the criminal interest rate.

Read More
Jul 11, 2023