Western Forest Products Enters Into New $30 Million Bilateral Term Loan

Group 1 - Western Forest Products Inc. has amended its $250 million syndicated credit facility to include a new $30 million bilateral term loan with Royal Bank of Canada, which has an initial maturity of July 21, 2028, and can be extended for up to 90 months [1] - The term loan is guaranteed by Business Development Canada under its Softwood Lumber Guarantee Program and is subject to the same financial covenants as the existing credit facility, which remain unchanged [1] - Proceeds from the term loan will be used to repay outstanding drawings of the credit facility [1] Group 2 - Western Forest Products is an integrated forest products company focused on building a margin-oriented log and lumber business to compete in global softwood markets [2] - The company operates primarily on the coast of British Columbia and Washington State, with a lumber capacity of 700 million board feet from five sawmills, and also operates four remanufacturing facilities and two glulam manufacturing facilities [2] - Western sources timber from long-term licenses, First Nations arrangements, and market purchases, and supplements production through a wholesale program offering a comprehensive range of specialty products [2]