BURNABY, BC, Nov. 25, 2013 /CNW/ - Taiga Building Products Ltd. (TSX: TBL) (TSX:TBL.NT), ("Taiga" or the "Company") announces that it has renewed its senior secured revolving credit facility (the "Facility") with a syndicate of lenders led by JPMorgan Chase Bank and including the Bank of Montreal, HSBC Bank, PNC Bank, Bank of Nova Scotia and TD Bank. The Facility has been increased from $200 million to $225 million, with an option to increase the limit by up to $50 million, and features reduced borrowing costs compared to the prior facility.
The Facility will mature on November 25, 2018 and continues to be secured by a first perfected security interest in all personal property of the Company and certain of its subsidiaries.
Cam White, President and Chief Executive Officer of Taiga commented: "We are pleased that our senior lender has expanded and renewed our lending facility and reduced our borrowing costs. This is a strong indicator of their support for the strength of our business and our achievements over the last three years."
SOURCE: Taiga Building Products Ltd.
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