Jun 26, 2013. /Lesprom Network/. International Forest Products ("Interfor") has completed a $50 million term debt financing led by Prudential Capital Group. The senior secured notes will carry an annual interest rate of 4.33% and have a final maturity of June 26, 2023. This term financing will reduce the Interfor 's existing floating rate bank debt, as the company said in a press release received by Lesprom Network.

"This transaction is a very important step for Interfor, as it allows the Company to significantly extend its debt maturities and to take advantage of historically low interest rates," said John Horning, Senior Vice President and CFO. "We are also very pleased to establish a long-term relationship with Prudential, as they have a significant track record in the forestry sector."

"We are excited to be working with Interfor, a company we have long viewed as one of the leaders in the forest products industry," said David Levine, Vice President, Prudential Capital Group. "We have forged a strong relationship with Interfor over the years, and are very pleased to be able to provide long-term capital to support the company's growth strategy."

Interfor is a leading global lumber supplier, with annual capacity of more than two billion board feet, and one of the most diverse lines of lumber products in the world. The Company has operations across North America and is headquartered in Vancouver, Canada.