Canfor Pulp Products Inc.

Canfor Pulp Products Inc.

November 05, 2013 18:00 ET

Canfor Pulp Products Inc. Announces New $50 Million 5 Year Term Loan

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 5, 2013) - Canfor Pulp Products Inc. ("CPPI") (TSX:CFX) today reported it has completed a new $50 million, 5 year term loan ("the Term Loan") with HSBC Bank Canada and Canadian Imperial Bank of Commerce to support its previously announced energy projects at its Northwood and Intercontinental pulp mills. The Term Loan matures on November 5, 2018 and has a floating rate of interest. Concurrently, CPPI also took the opportunity to extend its existing $110 million operating line of credit to January 31, 2018.

Forward Looking Statements

Certain statements in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "projects", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Forward-looking statements are based on current expectations and CPPI and the Purchaser assume no obligation to update such information to reflect later events or developments, except as required by law.

CPPI is a leading global supplier of pulp and paper products with operations in the central interior of British Columbia employing approximately 1,200 people throughout the organization. CPPI owns and operates three mills in Prince George, BC with a total capacity of 1.1 million tonnes of Premium Reinforcing Northern Bleached Softwood Kraft Pulp. CPPI is the largest North American and one of the largest global producers of market NBSK Pulp. CPPI also markets 210,000 tonnes of Bleached Chemi-Thermomechanical Pulp from the Canfor Taylor BCTMP Mill.

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