West Fraser enters into $150 million committed revolving credit facility - Global Paper Money

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West Fraser enters into $150 million committed revolving credit facility

CANADA (News release) -- West Fraser Timber has obtained from a syndicate of lenders an additional $150 million committed revolving credit facility. This committed facility has a term of two years and is made available on substantially the same terms and conditions as the company's existing syndicated revolving credit facility from certain lenders that are part of that syndicate. The facility can be used for general corporate purposes.

"Our strong balance sheet and additional liquidity further strengthens our ability to weather the impacts of the COVID-19 pandemic. Our low cost manufacturing operations, coupled with our product and geographic diversification leaves us well positioned," said Ray Ferris, President and CEO of West Fraser.

As at March 31, 2020, West Fraser's total available liquidity, consisting of cash on hand and availability under its revolving credit facilities, was approximately $294 million, and, taking into account the availability of the new $150 million revolving credit facility as of such date, would have been approximately $444 million.

West Fraser is a diversified wood products company producing lumber, LVL, MDF, plywood, pulp, newsprint, wood chips, other residuals and energy with facilities in western Canada and the southern United States.

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