Royal Bank of Canada announces C$70 million senior-secured asset-based revolving facility, and US$40 million senior secured term facility, each in favour of EACOM Timber Corporation

On December 31, 2014, EACOM Timber Corporation and certain of its subsidiaries (“EACOM”), entered into (i) a senior secured asset-based revolving credit facility in the principal amount of C$70 million; this facility is agented by Royal Bank of Canada, as Administrative Agent and Collateral Agent, who also acted as Sole Lead Arranger and Bookrunner under the facility, and (ii) a senior secured term loan facility in the principal amount of US$40 million; this facility is agented by Royal Bank of Canada, as Administrative Agent and Collateral Agent, who also acted as Sole Lead Arranger and Bookrunner under the facility.

EACOM Timber Corporation is a major Eastern Canadian wood products company formed in 2008. Its head office is located in Montreal, Quebec, with regional offices located in Timmins, Ontario and Val d’Or, Quebec. EACOM currently owns seven sawmills, a remanufacturing facility and a partnership operation in an engineered joist plant for a total of 800 employees. EACOM has a production capacity of approximately 900 million board feet of lumber and holds Crown logging rights of approximately 3.5 million cubic meters annually.

Norton Rose Fulbright Canada LLP represented Royal Bank of Canada in Canada with a team consisting of David Amato, Serge Levy and Amanda Fortuna.