The agreements should reduce company's debt by approximately $1 billion.
Debt Instruments
The need for this amendment arises in the wake of a significant downturn in the lumber market, where Benchmark SPF lumber prices saw a 50% reduction in 2023, leading to a negative EBITDA for Conifex.
Maryland-based company might proceed with the bankruptcy filing by the end of this week.
The purchase application activity has risen to levels comparable to mid-September when rates were similar to the current levels.
For the third consecutive week, mortgage rates have moved lower, supported by data suggesting a decrease in inflationary pressures.