Flakeboard $270 million credit facility to launch Tuesday

By Sara Rosenberg

New York, July 10 - Flakeboard Co. Ltd. is scheduled to hold a bank meeting on Tuesday to launch its proposed $270 million credit facility, according to a market source.

RBC Capital Markets is the lead bank on the deal.

The facility consists of a $40 million revolver and a $230 million term loan B, the source said.

Proceeds will be used to help fund the acquisition of Weyerhaeuser Co.'s composite panel business, which includes six MDF and particleboard mills.

Flakeboard is the Markham, Ont.-based manufacturer of composite panel products.

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