Western Forest refinances revolver, increasing it to C$110 million

By Angela McDaniels

Tacoma, Wash., June 29 - Western Forest Products Inc. finalized an agreement to refinance its existing revolving term loan facility on improved terms, according to a company news release.

Under the terms of the refinanced revolving term loan agreement with GE Capital, the availability on Western's existing C$75 million revolving term loan has been increased to C$110 million.

In addition, pricing for the revolving term loan has improved, and the maturity of the facility is now June 29, 2016.

Under the terms of the new arrangement, Western's liquidity position at March 31 would have been C$149.9 million, compared with C$114.9 million under the previous facility.

Western Forest Products is a forest products company based in Vancouver, B.C.

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