Kalinin, who had been placed on waivers by the Devils on Friday, officially cleared just hours before the trade had been completed.
By passing through waivers he is now eligible to be sent to the American Hockey League which is exactly where he will report following the trade.
The 25-year-old Kalinin signed with the Devils as a free agent out of the KHL before the start of the 2015-16 season. In his debut season with the team he appeared in 78 games, scoring seven goals and adding eight assists. With only four points (two goals, two assists) in 43 games this season he is not even close to matching the pace this season. He has not recorded a point in 13 consecutive games.
As for why the Maple Leafs did not just simply claim Kalinin on waivers instead of giving up a player for him, it all comes down to numbers. Had the Maple Leafs claimed him it would have given them the maximum 50 contracts. By trading for him in a one-for-one deal it keeps them below the limit and gives them some roster flexibility for another potential move in the near future.
In exchange for Kalinin the Devils will receive Loov, a seventh-round draft pick by the Maple Leafs in 2012.
He has spent most of his pro career playing for the Toronto Marlies in the AHL (including 41 games this season). He appeared in four games for the Maple Leafs a year ago, recording two assists.