West Fraser refinances with $500 million term loan and extends revolver

West Fraser ($WFG) secured a new $500 million, three-year term loan maturing in 2029 and extended its undrawn $1 billion revolving credit facility to 2030. Part of the new borrowing replaces a $300 million term loan that was due in 2028. The transaction lengthens the financing timetable while providing additional funding capacity.

The term loan bears floating interest based on SOFR or a base rate and can be prepaid without penalty, although amounts repaid cannot be borrowed again under that facility. West Fraser presented the refinancing alongside its regular dividend declaration. The $500 million loan and $1 billion revolver are different facilities: the latter was undrawn, so combining both amounts as newly received cash would overstate the financing proceeds. The announcement does not change the company’s operating-sales outlook.

Sources:

• West Fraser — refinancing and dividend announcement, company release reprint