Taiga Building expands revolver to C$250 million, renews to 2023

By Marisa Wong

Morgantown, W.Va., June 29 – Taiga Building Products Ltd. said it amended and renewed its senior secured revolving credit facility, increasing the size of the facility to C$250 million from C$225 million.

The facility includes an option to increase the limit by up to C$50 million. The facility also features the ability to draw on additional term loans in an aggregate amount of C$23 million at favorable rates, which Taiga may use for future growth or expansion opportunities, according to a press release.

The facility will mature on June 28, 2023 and is secured by a first perfected security interest in all real and personal property of the company and some of its subsidiaries.

The syndicate of lenders is led by JPMorgan Chase Bank and includes Bank of Montreal, Scotiabank, TD Bank and HSBC Bank.

Taiga is a wholesale distributor of building materials. The company is based in Burnaby, B.C.

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