Ainsworth Announces Closing of Senior Secured Term Loan - Global Paper Money

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Ainsworth Announces Closing of Senior Secured Term Loan

Vancouver, British Columbia, Canada – 27 June 2007 – Ainsworth Lumber Co. Ltd. today announced the closing of a senior secured term loan financing in the amount of USD 102.6 million, generating net proceeds to Ainsworth of USD 100.2 million. The loan bears interest at LIBOR plus 3.0% per annum and is secured by inventory and accounts receivable. There are no scheduled principal payments until maturity on 26 June 2014.

Ainsworth intends to use the net proceeds of the financing for working capital andgeneral corporate purposes.

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