BURNABY, BC , Nov. 25, 2013 /CNW/ - Taiga Building Products Ltd. (TBL.TO) (TBL-NT.TO), ("Taiga" or the "Company") announces that it has renewed its senior secured revolving credit facility (the "Facility") with a syndicate of lenders led by JPMorgan Chase Bank and including the Bank of Montreal , HSBC Bank, PNC Bank, Bank of Nova Scotia and TD Bank. The Facility has been increased from $200 million to $225 million , with an option to increase the limit by up to $50 million , and features reduced borrowing costs compared to the prior facility.
The Facility will mature on November 25, 2018 and continues to be secured by a first perfected security interest in all personal property of the Company and certain of its subsidiaries.
Cam White , President and Chief Executive Officer of Taiga commented: "We are pleased that our senior lender has expanded and renewed our lending facility and reduced our borrowing costs. This is a strong indicator of their support for the strength of our business and our achievements over the last three years."
SOURCE Taiga Building Products Ltd.
- Stocks & Offerings
- Bank of Montreal
- revolving credit facility
- JPMorgan Chase Bank
- Bank of Nova Scotia
- PNC Bank
For further information regarding Taiga please contact:
CFO and VP, Finance and Administration