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Canfor secures $315M loan agreement

Canfor Corporation has secured a US$315 million loan agreement with an affiliate of Farallon Capital Management.

The loan, backed by accounts receivable tied to countervailing and anti-dumping duties paid to the U.S. government, will provide Canfor with $232 million in advances.

The loan has terms of four and eight years, with an option for two additional ten-year extensions. Canfor expects to repay the loan using future duty refunds and interest from the U.S.

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