Taiga Building products announces intention to refinance outstanding notes

Taiga Building products announces intention to refinance outstanding notes

Canada NewsWire

BURNABY, BC, Aug. 8, 2017

BURNABY, BC, Aug. 8, 2017 /CNW/ - Taiga Building Products Ltd. ("Taiga" or the "Company") (TSX: TBL & TBL.NT) announces that it intends to review and consider various available alternatives to redeem, repurchase, refinance or restructure the Company's outstanding 14% subordinated unsecured notes due in 2020 (the "Notes"). The Company's board of directors will establish a special committee of independent directors to oversee this process and the procedure by which to effect the proposed transaction in respect of the Notes. The Notes are redeemable at par commencing September 1, 2017. The Company will disclose further developments in the ordinary course.

Forward-Looking Information

This news release contains statements which are, or may be deemed to be, "forward-looking information" and are prospective in nature. Often, but not always, forward-looking information can be identified by the use of forward-looking words such as "plans", "expects" or "does not expect", "is expected", "scheduled", "estimates", "forecasts", "projects", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Such information in this news release includes, without limitation, statements regarding the Company's pursuit of available alternatives in connection with the Notes. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause Taiga's actual results, revenues, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information.   Important risks that could cause Taiga's actual results, revenues, performance or achievements to differ materially from Taiga's expectations include, among other things the availability of options or alternatives in respect of the Notes on terms satisfactory to the Company, the implementation of any transaction(s), the terms, conditions and timing of any refinancing of the Notes and other risks found in the Company's Annual Information Form for the year ended March 31, 2017, which is available on SEDAR at www.sedar.com. Other than in accordance with regulatory obligations, Taiga is not under any obligation and expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Taiga Building Products Ltd.

View original content: http://www.newswire.ca/en/releases/archive/August2017/08/c3787.html

Copyright CNW Group 2017