NOTIFICATION: The Technology Channels will soon be discontinued.
Click here to download complimentary copies of Fastmarkets RISI’s pulp and paper newsletters.

 

Canfor Pulp completes new $50 million, 5 year term loan with HSBC Bank Canada and Canadian Imperial Bank of Commerce

Read so far

Canfor Pulp completes new $50 million, 5 year term loan with HSBC Bank Canada and Canadian Imperial Bank of Commerce

November 05, 2013 - 15:19
Posted in:

VANCOUVER, BC, Nov. 5, 2013 (Marketwired) -Canfor Pulp Products Inc. 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.

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.