Canfor Corporation announced today that it and certain of its subsidiaries (collectively, 'Canfor') have entered into an approximately USD$315 million loan agreement with an affiliate of Farallon Capital Management, L.L.C. and received all advances thereunder, totaling approximately US$232 million. The loan is secured by certain accounts receivable related to countervailing and anti-dumping duties paid to the US government.
The borrowings under the loan have terms of four and eight years, and each can be extended at Canfor's option for two additional ten-year terms.
