RYAM commences $325M senior secured notes offering to redeem 2024 notes

RAYONIER ADVANCED MATERIALS INC.

Rayonier A.M. Products Inc. offers $325M aggregate principal of senior secured notes due 2028 in private placement.
Proceeds plus cash on hand to fully redeem RYAM's 5.50% Senior Notes due 2024.
Notes will be guaranteed on senior secured basis by RYAM and certain U.S. and Canadian subsidiaries.
Amendment to ABL credit agreement permits notes issuance and replaces LIBOR with SOFR.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

RAYONIER ADVANCED MATERIALS INC. amended Amendment No. 1 to Revolving Credit Agreement with Bank of America, N.A., as administrative and collateral agent, and the lenders and issuing banks party thereto (effective 2023-01-17).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A., as administrative and collateral agent, and the lenders and issuing banks party thereto
Effective: 2023-01-17

Exact text from the filing

On January 17, 2023, Rayonier A.M. Products Inc. (the “Company”), a wholly owned subsidiary of Rayonier Advanced Materials Inc. (“RYAM”), entered into Amendment No. 1 to Revolving Credit Agreement (the “Amendment”) amending its Revolving Credit Agreement, dated as of December 10, 2020, among RYAM, the Company, the other subsidiaries of RYAM from time to time party thereto, the lenders and issuing banks from time to time party thereto and Bank of America, N.A., as administrative and collateral agent

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RAYONIER ADVANCED MATERIALS INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-008974

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