US timber giant Louisiana-Pacific Corporation (LPC) has completed a major refinancing in a bid to strengthen its financial position – and help it trade through the current economic crisis.
The refinancing, which the company has been working on since last summer, includes a number of transactions designed to restructure LPC’s debt and provide a cash sum.
Curt Stevens, LPC’s chief financial officer, said: “We believe that this capital availbility, along with our previously announced actions to reduce costs and conserve cash, will allow us to get through these poor market conditions and position ourselves to take advantage of the economic rebound as it occurs.”
