Business
Taiga expands its senior credit facility to $225 million
BURNABY, BC , Nov. 25, 2013 /CNW/ - Taiga Building Products Ltd. (TSX: TBL) (TSX:TBL.NT)...
About this update from Taiga Building Products Ltd.
[{"type":"text","content":"\n\n\nBURNABY, BC, Nov. 25, 2013 /CNW/ - Taiga Building Products Ltd. (TSX:\n TBL) (TSX:TBL.NT), (\"Taiga\" or the \"Company\") announces that it has\n renewed its senior secured revolving credit facility (the \"Facility\")\n with a syndicate of lenders led by JPMorgan Chase Bank and including\n the Bank of Montreal, HSBC Bank, PNC Bank, Bank of Nova Scotia and TD\n Bank. The Facility has been increased from $200 million to\n $225 million, with an option to increase the limit by up to $50\n million, and features reduced borrowing costs compared to the prior\n facility.\n\n\nThe Facility will mature on November 25, 2018 and continues to be\n secured by a first perfected security interest in all personal property\n of the Company and certain of its subsidiaries.\n\n\nCam White, President and Chief Executive Officer of Taiga commented: \"We\n are pleased that our senior lender has expanded and renewed our lending\n facility and reduced our borrowing costs. This is a strong indicator of\n their support for the strength of our business and our achievements\n over the last three years.\"\n\n\nSOURCE Taiga Building Products Ltd.\n\n For further information regarding Taiga please contact: Mark Schneidereit-Hsu CFO and VP, Finance and Administration Phone: 604-438-1471 Fax: 604-439-4242 Copyright CNW Group 2013","length":1991,"tagName":"div"}]