Pope & Talbot to repay at least $63 million of term debt using lumber refunds

By Sara Rosenberg

New York, Nov. 1 - Pope & Talbot Inc. anticipates making mandatory prepayments on its term loan of about $63 million upon the receipt of expected softwood lumber duty refunds, according to a company news release.

In addition, the company anticipates that it will use a portion of the duty refunds received in excess of the mandatory prepayments to further reduce its outstanding borrowings. These voluntary payments would be subject to prepayment premium.

Pope & Talbot is a Portland, Ore.-based forest products company.

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