BURNABY, BC, Feb. 9 /CNW/ - Taiga Building Products Ltd. (TSX: TBL & TBL.NT) announces the payment of deferred interest and deferred interest on interest, on its 14% Subordinated Notes. The payment total of approximately $12.3 million will be made to noteholders of record at the close of business on February 19, 2010 and will be paid on March 1, 2010. The interest payment amounts to $109.4066 per $1,000 principal amount of Subordinated Notes. The payment amount was accrued for the period of March 1, 2009 to November 30, 2009.
Taiga is pleased that significant increases in operating efficiency and the recovering construction markets have provided Taiga with improved cash flow and the surplus cash capacity to settle, in full, all Subordinated Note deferred interest amounts owing.
SOURCE Taiga Building Products Ltd.
For further information: For further information: regarding Taiga please contact: Tom Stefan, Vice President, Finance and Administration, Phone: (604) 438-1471, Fax: (604) 439-4242; Mark Schneidereit, Manager, Corporate Planning, Tel: (604) 438-1471