BNP Paribas has closed a $100 million syndicated revolving credit facility structured as a sustainability-linked loan with Empresas CMPC S.A., a Chilean pulp and paper company.
The Estonian wood industry company Kaamos Timber entered into a loan agreement with the European Bank for Reconstruction and Development (EBRD) whose support will be used to establish a new sawmill owned by the Estonian company near the city of Mozyr in Belarus.
BNL BNP Paribas Group has structured Euro 50 millions positive loan in favour of Biesse Group, a multinational company based in Pesaro, Italy. BNL's positive loan is an innovative form of financing whose economic conditions further improve upon the achievement of precise environmental and social sustainability goals wh...
Unifor is urging the Nova Scotia government to work with Northern Pulp to secure Debtor-In-Possession (DIP) financing amid the company's restructuring.
Neenah, Inc. has entered into a term loan credit agreement, providing a term loan B facility of seven years in the amount of $200 million. Neenah also announced that it is calling its outstanding 2021 notes for redemption in full on July 16, 2020. Proceeds under the new facility will be used to redeem the $175 million ...
Additionally, Armstrong Flooring has entered into a new $70 million term loan facility (“Term Loan”) to further strengthen its capital resources. Borrowings under the new Term Loan will bear interest at a rate of LIBOR with a floor of 1.50% plus a spread of 12.0%.
Huhtamäki Oyj has signed a Euro 150 million freely transferable loan agreement (Schuldschein). The loan is targeted to institutional investors. It is divided into two floating rate and two fixed rate tranches with maturities of 3 and 5 years.
Pinnacle Renewable Energy Inc. has reached an agreement with its lenders to amend the company's existing credit agreement. The terms of the amendment are temporary in nature and are designed to improve financial flexibility for the company through the end of June 2021.
Paper Excellence Canada announced that 1057863 B.C. Ltd, Northern Pulp Nova Scotia, Northern Timber Nova Scotia and other related non-operating affiliates (collectively, “Northern Pulp”) have obtained an initial order under the Companies’ Creditors Arrangement Act (“CCAA”). The initial order stays proceedings against N...
Rayonier Advanced Materials Inc. announced that, in working with its lenders under its Senior Secured Credit Agreement, it has entered into an amendment under which, among other changes, the lenders have agreed to relax the financial covenants through 2022.
IFC, a member of the World Bank Group, and IDB Invest, a member of the IDB Group, are co-leading a $1.1 billion financing to LD Celulose S.A., a joint venture between Lenzing AG and Duratex S.A., to build one of the largest dissolving wood pulp plants in the world, in Minas Gerais State, Brazil.
Norbord Inc. has renewed its committed revolving bank lines (revolvers) on substantially the same terms and conditions. The maturity date has been extended to May 2022 and, to further strengthen liquidity, the aggregate commitment has been increased by $55 million to $300 million.
North Avenue Capital (NAC), a specialized commercial lender providing capital under the USDA Rural Development loan program, has funded a strategic loan to B&C Timbers, LLC, the parent company of third-generation lumber provider, G&G Forest Products, of Harmony, North Carolina.
Lumber Liquidators reached agreement with its lenders to amend its Senior Secured Credit Facilities. While the Facilities maturity remains March 2024, the amendment is effective through August 30, 2020.
HNI Corporation is providing an update related to the ongoing COVID-19 pandemic crisis. At the end of the 1Q 2020, the Corporation had $233 million in total debt, representing a gross leverage ratio of 1.0x as calculated under the Corporation’s lending agreements, which is well below the 3.5x gross leverage covenant in...
West Fraser Timber has obtained from a syndicate of lenders an additional $150 million committed revolving credit facility. This committed facility has a term of two years and is made available on substantially the same terms and conditions as the company’s existing syndicated revolving credit facility from certain len...
Japan International Cooperation Agency (JICA) signed a $72-million loan agreement with Klabin S.A., a Brazilian pulp and paper manufacturing company.
Estonia's Kaamos Timber secures Euro15 million loan from European Bank for Reconstruction and Development (ERBD). Kaamos Timber to build a new sawmill in south Belarus.
UPM is one of the first companies to link the pricing mechanism of a syndicated revolving credit facility (RCF) to both biodiversity and climate targets. BNP Paribas acted as a sustainability coordinator for the facility.