Tenon says it has signed a new $US70 million syndicated debt facility to replace its existing $US54 million facility.
The wooden building products company says $US59 million of the new facility is a revolver line and the remaining $US11 million is an amortising term loan. The term of the facility is five years until September 2018.
With the US housing market quickly improving, chairman Luke Moriarty said it's important that Tenon has sufficient flexibility to take advantage of the expected growth.
Among the banks participating are PNC Bank National Association in the United States and Bank of New Zealand.
