GreenFirst Forest Products Inc. announced the closing of $140 million in financing from the Bank of Montreal in Canada. The financing includes a $125 million asset-backed revolving credit facility and a $15 million term loan. This refinancing replaced a high yield $90 million secured term loan and a $65 million asset-backed loan facility.
The refinanced credit terms have lowered the Company’s cost of capital and have simplified compliance. The terms also provide GreenFirst with flexibility to advance our strategy, which includes deploying capital to expand production at our operations and the possible sale of non-core assets.
GreenFirst Forest Products is a forest-first business, focused on sustainable forest management and lumber production. The Company owns 7 sawmills and 1 paper mill across Ontario and Quebec.
