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Article: Arbec Forest Products Inc. announces closing of credit facility.
- Article from:
- PR Newswire
- Article date:
- March 14, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SAINT-LEONARD, QC, March 14 /PRNewswire-FirstCall/ -- Arbec Forest Products Inc. ("Arbec" or the "Company") announced today the closing of a credit facility with Jolina Capital Inc. ("Jolina") as lender, the proceeds of which will be used by Arbec to redeem in full, on March 15, 2006, the outstanding C$60 million 9% Senior Notes Series "A" due March 15, 2009 and C$40 million 7.5% Senior Convertible Notes Series "B" due September 15, 2008, in accordance with the terms of such notes. The credit facility will have a maturity date of September 29, 2009, and borrowings under such facility will bear interest at a rate of 8% per annum.
Jolina is a company controlled by ...