Feb 20, 2013. /Lesprom Network/. Hardwoods Distribution Inc. (“Hardwoods”) announced an amendment to the revolving credit facility available to its’ U.S. operating subsidiary, Hardwoods Speciality Products USLP (“Hardwoods USLP”). The Amendment increases the maximum borrowings available to Hardwoods USLP under the credit facility, from $30 million to $45 million, as the company said in a press release received by Lesprom Network. “New residential construction and renovation markets continue to show signs of significant improvement in the United States, and Hardwoods USLP’s sales are heavily influenced by conditions in these sectors of the economy,” said Lance Blanco, President and CEO. “Based on improving results in these markets, Hardwoods USLP expects to experience higher demand for its products well into 2014. Increasing the size of Hardwoods USLP’s credit facility provides additional flexibility to finance higher working capital requirements, which would accompany increased levels of sales activity that we expect in the U.S.” In addition to increasing the size of the credit facility, the Amendment reduces interest rates payable on borrowed funds by 50 basis points. The Amendment also updates certain financial covenant and distribution thresholds to reflect the increased size of the facility, and extends the maturity date of the facility by one year to May 26, 2016. Hardwoods is one of North America’s largest wholesale distributors of hardwood lumber and related sheet good products, operating a network of 31 distribution centers in the U.S. and Canada.