Interfor Corporation

09:46 AM EST - Interfor Corporation : Has closed a new and modernized credit facility with a syndicate of major banks co-led by RBC Capital Markets, TD Securities and Wells Fargo. The new facility will consolidate and replace several existing bank agreements. The major elements of the new agreement include: (i) increasing total availability to $350 million, which represents an increase of approximately $20 million versus the total under the previous credit agreements; (ii) extending the term from 2021 to 2024; (iii) reducing the security package, reporting covenants and certain other restrictions; and (iv) establishing a more favourable fee structure. Interfor Corporation shares T.IFP are trading up $0.24 at $15.81.