Interfor Completes Modernization of its Credit Facilities

Press Release

March 29, 2019

Consolidates Bank Agreements into a New $350 million Facility

Simplifies Terms, Enhances Flexibility and Extends Maturity to 2024

INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) today announced that it has closed a new and modernized credit facility with a syndicate of major banks co-led by RBC Capital Markets, TD Securities and Wells Fargo.

The new facility will consolidate and replace several existing bank agreements. The major elements of the new agreement include: (i) increasing total availability to $350 million, which represents an increase of approximately $20 million versus the total under the previous credit agreements; (ii) extending the term from 2021 to 2024; (iii) reducing the security package, reporting covenants and certain other restrictions; and (iv) establishing a more favourable fee structure.

“Interfor is very pleased to have the support of its long standing lending partners. In particular, we were appreciative of their perspectives and advice as we developed our roadmap for this modernized credit arrangement,” said Mike Standbrook, Interfor’s Vice President and Corporate Treasurer. “At December 31, 2018, Interfor had more than $500 million of available liquidity and this new facility will provide the Company with additional flexibility to pursue its strategic agenda.”

-30-

ABOUT INTERFOR

Interfor is a growth-oriented lumber company with operations in Canada and the United States. The Company has annual production capacity of approximately 3.1 billion board feet and offers one of the most diverse lines of lumber products to customers around the world. For more information about Interfor, visit our website at www.interfor.com.

For further information:

Mike Standbrook
Vice President & Corporate Treasurer
(604) 451-2828

IBF4