Hardwoods Distribution Inc. (“HDI”) has received a term sheet from its US bank to increase its existing revolving credit facility from $125 million to $150 million, to extend the maturity of the facility from July 2021 to October 2024, and to reduce borrowing rates under the facility.
The credit facility will be used by the company to pay the purchase price for the acquisition of Pacific Mutual Door.
HDI is North America’s largest wholesale distributor of architectural grade building products to the residential and commercial construction sectors.
