Sonae Indústria, SGPS, SA announces loan obtained by its affiliated Tafisa Canada Inc.

Jul 18, 2011. /Lesprom Network/. Sonae Industria, SGPS, SA announces that its Canadian subsidiary Tafisa Canada Inc. has set up a syndicated loan in the maximum amount of C$81 million. This loan is for a five year period and its maturity profile is aligned with the expected operational cash flow of Tafisa Canada Inc. during this period. This deal was done with local financial institutions and allows for the long term refinancing of Tafisa Canada Inc. debt towards other Sonae Industria Group companies as well as for the refinancing of an existing short term credit facility, contributing in both cases to increase Sonae Industria, SGPS, SA financial flexibility. Sonae Indústria is one of the largest wood based panels producers in the world. The product range includes: particleboard, MDF (Medium Density Fibreboard), hardboard, OSB (Oriented Strand Board), production and sales of value added products and services - components, solutions and systems - for the furniture, building, decoration and DIY industries.