Interfor Corporation has priced $200 million in additional long-term debt financing with Prudential Private Capital. The senior secured notes will carry an annual interest rate of 7.06% and have a final maturity in 2033. All other terms remain consistent with Interfor’s existing senior secured notes. The financing is expected to close in early December.
Following completion of the financing, Interfor’s long-term debt will have a weighted average interest rate of 5.30% with laddered maturities principally spanning 2024-2033.
Interfor continues to have significant financial flexibility to execute its strategic capital investment plans and consider additional value-creating capital deployment options. As of October 31, 2022 Interfor had a Net Debt to Invested Capital ratio of approximately 10%.
Interfor is a growth-oriented forest products company with operations in Canada and the United States.
