Interfor Corporation has priced a $100 million long-term debt financing with Prudential Capital Group. The senior secured notes will carry an annual interest rate of 4.17% and have a final maturity in 2026. The financing is expected to close on March 16th and the proceeds will be used to reduce the drawings under the Company's bank credit facilities.

Interfor has priced a $100 million long-term debt financing with Prudential Capital Group

15:00 / February 18, 2015

Feb 18, 2015. /Lesprom Network/. Interfor Corporation has priced a $100 million long-term debt financing with Prudential Capital Group. The senior secured notes will carry an annual interest rate of 4.17% and have a final maturity in 2026. The financing is expected to close on March 16th and the proceeds will be used to reduce the drawings under the Company's bank credit facilities, Interfor said in the press release received by Lesprom Network.

The Company expects to close the acquisition of four sawmills from Simpson Lumber Company, LLC on March 1st, with a portion of the acquisition price initially financed from funds currently available under its existing bank credit facilities.

"This transaction will increase our long-term debt to a total of $200 million, and significantly extend our debt maturities at an extremely attractive interest rate," said John Horning, Executive Vice President and CFO at Interfor. "Following completion of this financing, Interfor's total long-term debt will have an average interest rate of 4.17% with maturities that are evenly spread across the years 2021-2026."

Interfor is a growth-oriented lumber company with operations in Canada and the United States.

Lesprom Network

Interfor has priced a $100 million long-term debt financing with Prudential Capital Group

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