|By Marketwire .||
|February 28, 2013 07:55 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/01/13 -- INTERNATIONAL FOREST PRODUCTS LIMITED ("Interfor" or the "Company") (TSX:IFP.A) announced today that it has increased and extended its bank syndicated credit facilities.
The credit facilities have been increased by $50 million to bring the total available to $315 million. In addition, the maturity of these facilities has been extended from July 2015 to February 2017 with improved pricing. These modifications provide Interfor with enhanced financial flexibility following the completion of the Rayonier acquisition scheduled to close on March 1, 2013.
This release contains information and statements that are forward-looking in nature, including, but not limited to, statements containing the words "will" and "is expected" and similar expressions. Such statements involve known and unknown risks and uncertainties that may cause Interfor's actual results to be materially different from those expressed or implied by those forward-looking statements. Such risks and uncertainties include, among others: general economic and business conditions, product selling prices, raw material and operating costs, changes in foreign-currency exchange rates, and other factors referenced herein and in Interfor's Annual Report and Management Information Circular available on www.sedar.com. The forward-looking information and statements contained in this report are based on Interfor's current expectations and beliefs. Readers are cautioned not to place undue reliance on forward-looking information or statements. Interfor undertakes no obligation to update such forward-looking information or statements, except where required by law.
Interfor is a leading global supplier, with one of the most diverse lines of lumber products in the world. The Company has operations in British Columbia, Washington and Oregon, including two sawmills in the Coastal region of British Columbia, three in the B.C. Interior, two in Washington and two in Oregon. With the Rayonier acquisition the Company will add three sawmills in Georgia.
For more information about Interfor, visit our website at www.interfor.com.
International Forest Products Limited
John A. Horning
Senior Vice President & Chief Financial Officer