Western Forest Products Inc. (WEF.TO: Quote) said Friday it has finalized an agreement to refinance its existing revolving term loan facility on improved terms.
Under the terms, availability on Western's existing $75 million revolving term loan has been increased to $110 million. In addition, pricing for the revolving term loan has improved, and maturity of the facility is now June 29, 2016.
Under the terms of the new arrangement, Western's liquidity position at March 31, 2012 would have been $149.9 million, compared to $114.9 million under the previous facility.
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by RTT Staff Writer
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