Interfor Corporation
TSX : IFP

Interfor Corporation

December 17, 2014 17:00 ET

Interfor Completes Debt Financing with Prudential Capital Group

US$50 Million - 4.02% Senior Secured Notes Due 2023

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 17, 2014) - INTERFOR CORPORATION ("Interfor" or the "Company") (TSX:IFP) announced today it has completed a US$50 million term debt financing with Prudential Capital Group. The senior secured notes will carry an annual interest rate of 4.02% and have a final maturity of June 26, 2023. This term financing will reduce the Company's outstanding floating rate bank debt. The total available credit under the Company's syndicated bank facilities remains at C$315 million.

"This transaction is a very important step for Interfor, as it allows the Company to extend its debt maturities and to take advantage of historically low interest rates," said John Horning, Executive Vice President and Chief Financial Officer. "We are very pleased to build on our long-term relationship with Prudential Capital Group."

"We are excited to continue building on our relationship with Interfor, a company we view 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 additional long-term capital to support the company's growth strategy."

FORWARD-LOOKING STATEMENTS

This release contains information and statements that are forward-looking in nature, including, but not limited to, statements containing the words "will" and "is expected" and similar expressions. Such statements involve known and unknown risks and uncertainties that may cause Interfor's actual results to be materially different from those expressed or implied by those forward-looking statements. Such risks and uncertainties include, among others: general economic and business conditions, product selling prices, raw material and operating costs, changes in foreign-currency exchange rates, and other factors referenced herein and in Interfor's Annual Report and Management Information Circular available on www.sedar.com. The forward-looking information and statements contained in this report are based on Interfor's current expectations and beliefs. Readers are cautioned not to place undue reliance on forward-looking information or statements. Interfor undertakes no obligation to update such forward-looking information or statements, except where required by law.

ABOUT INTERFOR

Interfor is a growth-oriented lumber company with operations in Canada and the United States. The Company has annual production capacity of 2.4 billion board feet and offers one of the most diverse lines of lumber products to customers around the world. For more information about Interfor, visit our website at www.interfor.com.

ABOUT PRUDENTIAL CAPITAL GROUP

Prudential Capital Group has been a leading provider of private debt, mezzanine and equity securities to companies worldwide for more than 70 years. Managing a portfolio of $69.1 billion as of September 30, 2014, Prudential Capital offers senior debt and mezzanine capital, leveraged leases, credit tenant leases, and equipment finance to companies, worldwide. The global regional office network has locations in Atlanta, Chicago, Dallas, Frankfurt, London, Los Angeles, Minneapolis, Newark, N.J., New York, Paris and San Francisco. For more information, please visit www.prudentialcapitalgroup.com.

Contact Information

  • Interfor Corporation
    John Horning
    Executive Vice President and Chief Financial Officer
    (604) 689-6829
    www.interfor.com