Key Developments: Tembec Inc (TMB.TO)

TMB.TO on Toronto Stock Exchange

2.71CAD
24 Dec 2014
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Latest Key Developments (Source: Significant Developments)

Tembec Inc announces intent to terminate SEC reporting obligations
Friday, 17 Oct 2014 01:59pm EDT 

Tembec Inc:Says its wholly-owned subsidiary, Tembec Industries Inc. (company), is voluntarily filing a Form 15F with the U.S. Securities and Exchange Commission to terminate its duty to file reports under the Securities Exchange Act of 1934, as amended.As a result of this filing, the Company's obligation to file certain reports with the SEC will immediately be suspended.Tembec expects that this termination of the Company's reporting obligation will become effective 90 days after its filing with the SEC (or within a shorter period as the SEC may determine).  Full Article

Tembec announces closing of senior secured notes offering and extends maturities to 2019
Wednesday, 1 Oct 2014 01:08pm EDT 

Tembec Inc:Says its wholly-owned subsidiary, Tembec Industries Inc. successfully completes its previously announced private offering of $375 mln in aggregate principal amount of 9 pct senior secured notes due 2019.Proceeds from offering will be used to purchase and redeem all of company's existing 11.25 pct senior secured notes due 2018; and repay portion of borrowings outstanding under company's asset-based revolving credit facility, and.Says to pay fees and expenses incurred in connection with these refinancing transactions.  Full Article

Tembec announces pricing of new senior secured notes
Wednesday, 24 Sep 2014 12:01pm EDT 

Tembec Inc:Says its wholly-owned subsidiary, Tembec Industries Inc, prices an offering of US$375 mln aggregate principal amount of 9 pct senior secured notes due 2019.New Notes were priced at 100 pct of the aggregate principal amount.Sale of the New Notes is expected to be completed on or about Oct. 1.Proceeds are intended to be used to purchase any and all of the Company's existing 11.25 pct senior secured notes due 2018.  Full Article

Tembec Inc announces proposed offering of new senior secured notes
Tuesday, 16 Sep 2014 02:19pm EDT 

Tembec Inc:Says its wholly-owned subsidiary, Tembec Industries Inc. (Company), intends to offer, $375 mln aggregate principal amount of new senior secured notes due 2019 to refinance its existing 11.25 pct senior secured notes due 2018.As part of the refinancing, company has launched a cash tender offer for any and all of its Existing Notes and related consent solicitation to amend certain provisions in the indenture governing the Existing Notes.Proceeds are intended to be used to purchase any and all of the Existing Notes that are validly tendered in connection with the tender offer for its Existing Notes and to redeem or repurchase any Existing Notes not purchased in the tender offer.Uses proceeds to repay a portion of the borrowings outstanding under the Company's asset-based revolving credit facility.Uses proceeds to pay fees and expenses incurred in connection with these refinancing transactions.  Full Article

Tembec Inc completes additional sale of land in British Columbia
Tuesday, 16 Sep 2014 01:55pm EDT 

Tembec Inc:Closes sale of about 31,800 hectares of land located within the Regional District of East Kootenay, British Columbia, to Jemi Fibre Corp. ("Jemi"), which sale was previously announced on April 25.Total consideration for the transaction was $21 mln, including a deferred amount of $2 mln payable by no later than June 24, 2021.Under certain circumstances, the repayment of the deferred amount may be accelerated.The transaction is the second part of a two phase sale.The first phase of the sale closed on June 25.The transaction is part of the BC Land Sale Initiative.  Full Article

Tembec Inc completes sale of land in British Columbia
Wednesday, 25 Jun 2014 08:22am EDT 

Tembec Inc:Closes the sale of about 17,700 hectares of land located within the Regional District of East Kootenay, British Columbia, to Jemi Fibre Corp, which sale was previously announced on April 25.Total consideration for the transaction was $15 million.The transaction is the first part of a two phase sale.The second phase of the sale, which is expected to occur in Sept. 2014, relates to the sale to Jemi of about 31,800 hectares for a price of $20 million.  Full Article

Tembec Inc announces conditional sale of land in British Columbia
Friday, 25 Apr 2014 08:31am EDT 

Tembec Inc:Reached an agreement to sell about 49,500 hectares of land located within the Regional District of East Kootenay, British Columbia, to Jemi Fibre Corp for a price of $35 mln.Transaction includes a seven year earn-out provision pursuant to which Tembec would be entitled to additional payments of at least $2.1 mln.Sale is expected to close in two phases, first phase in June 2014 and second phasein Sept. 2014.  Full Article

Tembec Inc sells pulp mill in Chetwynd, British Columbia
Monday, 10 Mar 2014 09:04am EDT 

Tembec Inc:Closes sale of pulp mill and related assets located in Chetwynd, British Columbia to Paper Excellence Canada Holdings Corporation for nominal amount.  Full Article

Tembec Inc completes sale of land in to Teck Resources Ltd
Monday, 25 Nov 2013 08:15am EST 

Tembec Inc:Says it has closed of the sale of approximately 7,150 hectares of land located within the Regional District of East Kootenay, British Columbia, to Teck Resources Ltd, which sale was previously announced on Oct. 17, 2013.Total consideration for the transaction was $19 million.  Full Article

Tembec Inc To Sell Land In British Columbia
Thursday, 17 Oct 2013 05:00pm EDT 

Tembec Inc announced that it has reached an agreement to sell approximately 7,150 hectares of land located within the Regional District of East Kootenay, British Columbia(BC), to Teck Resources Limited for a price of $19 million. Closing of the transaction is expected to occur in December 2013 and is subject to customary closing conditions.  Full Article

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