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BURNABY, BC, Nov. 23, 2017 /CNW/ - Taiga Building Products Ltd. ("Taiga" or the "Company") (TSX: TBL & TBL.NT) today announced that it has exercised its right to redeem all of its outstanding 14% subordinated notes due 2020 (CUSIP 87402AAA6) (the "Notes), in the aggregate principal amount of $14,922,249 (the "Redemption"). A notice of redemption (the "Redemption Notice") pursuant to the terms of the indenture governing the Notes (the "Indenture") has been mailed to all registered holders of Notes. The Redemption Notice provides a redemption date of December 23, 2017 (the "Redemption Date") and a redemption price of 100% of the principal amount of the Notes, plus accrued and unpaid interest to, but not including, the Redemption Date. Interest on the Notes will cease to accrue on and after the Redemption Date. Taiga intends to fund the Redemption using its senior credit facility.
Questions regarding this redemption should be directed to Computershare Trust Company of Canada, the trustee under the Indenture, by telephone at 1-800-564-6253, or to the Company.
This news release contains forward-looking information that is based on current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking information does not guarantee future performance and involves risks, uncertainties and assumptions which are difficult to predict and which may cause Taiga's actual results in future periods to differ materially from expected results. In particular, statements about the Company's plans or intentions regarding the completion of the redemption and the utilization of the senior credit facility to fund the redemption constitute forward-looking information any may not necessarily occur. Investors are cautioned that all forward-looking information involves risks and uncertainties including, without limitation, those risk factors listed from time to time in the Company's public filings. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking information, which are qualified in their entirety by this cautionary statement. Taiga does not undertake any obligation to release publicly any revisions to or updating any voluntary forward-looking information, except as required by applicable securities law.
SOURCE Taiga Building Products Ltd.
For further information: Mark Schneidereit-Hsu, VP, Finance & Administration and CFO, Tel: 604-438-1471, Fax: 604-439-4242