RYAM closes $700M term loan, repays existing debt, extends ABL to 2029

RAYONIER ADVANCED MATERIALS INC.

Borrowed $700M under new senior secured term loan facility to refinance existing debt and redeem 7.625% 2026 Notes.
Amended ABL facility: revolver commitments cut from $200M to $175M; maturity extended to November 2029.
Prepaid and terminated Existing Term Loan Credit Agreement (July 2023) and Existing Pari Passu Credit Agreement.
Legally defeased all remaining 2026 Notes; redemption set for Jan 15, 2025 at 100% principal plus accrued interest.

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