Business
Taiga commences exchange offer and consent solicitation for its 14% subordinated unsecured notes
Taiga commences exchange offer and consent solicitation for its 14% subordinated unsecured...
About this update from Taiga Building Products Ltd.
[{"type":"text","content":"\n\n\n\nTaiga commences exchange offer and consent solicitation for its 14% subordinated unsecured notes\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen3{\nBORDER-BOTTOM:1pt; TEXT-ALIGN: RIGHT; BORDER-LEFT:1pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.83em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:1pt; BORDER-RIGHT:1pt\n}\n.prngen4{\nBORDER-BOTTOM:1pt; BORDER-LEFT:1pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.83em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:1pt; BORDER-RIGHT:1pt\n}\n.prngen2{\nBORDER-BOTTOM:1pt; TEXT-ALIGN: CENTER; BORDER-LEFT:1pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:1pt; BORDER-RIGHT:1pt\n}\n.prngen5{\nBORDER-BOTTOM:1pt; BORDER-LEFT:1pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:1pt; BORDER-RIGHT:1pt\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n.prntblns{\nBORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; BORDER-COLLAPSE: collapse; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nBURNABY, BC, Oct. 2, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nBURNABY, BC, Oct. 2, 2017 /CNW/ - Taiga Building Products Ltd. (\"Taiga\" or the \"Company\") (TSX: TBL & TBL.NT) announces that it has commenced an offer, on the terms and subject to the conditions set forth in the Company's Exchange Offer and Consent Solicitation Statement dated September 29, 2017 (the \"Exchange Offer\") to purchase any and all of its outstanding 14% subordinated unsecured notes of the Company due September 1, 2020 (the \"Existing Notes\") in exchange for:\n\n\nan equivalent principal amount of new 7% senior notes of Taiga (the \"New Notes\") due five years from the date of issuance (the \"Note Option\");\ncommon shares of Taiga (\"Common Shares\") at a rate of 833.33 Common Shares (the \"Share Exchange Price\") for each $1,000  principal amount of Existing Notes (the \"Share Option\"); or\nany combination of the Note Option and the Share Option as determined by the holders of the Existing Notes (the \"Noteholders\").\n\nThe Comp...