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Tembec secures $150 million loan

To guarantee access to the financial resources and liquidity it needs, Tembec has put in place a capital loan facil…

To guarantee access to the financial resources and liquidity it needs, Tembec has put in place a capital loan facility with CIT Business Credit Canada. The loan is a three-year committed revolving line of $150 million, a sum that Tembec feels confident will provide it with "substantial benefits." The line replaces a $140 million operating facility that had been renewed annually since 2000.