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Tembec in financial a crunch timea as bonds plummet, may rely on bailout from Fairfax [Bloomberg]

2015-09-16 02:01:24| Agriculture - Topix.net

Soon after Prem Watsa - the investor known as Canada's Warren Buffett - became the largest shareholder of Tembec Inc., the bond market started betting creditors may be taking over instead. The forestry firms' bonds plummeted to about 68 cents on the dollar after the Montreal-based company warned that if its earnings continue to fall it could breach the terms of a bank loan.

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Category:Agriculture and Forestry

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