Sylvamo launches cash tender offer for all $450M 7% Senior Notes due 2029; seeks $300M new term loan

Sylvamo Corp

Tender offer for any and all $450M outstanding 7.000% Senior Notes due 2029; total consideration $1,000 per $1,000 principal (includes $30 early tender premium).
Consent solicitation to eliminate substantially all restrictive covenants and certain events of default; requires majority consent.
Concurrently seeking $300M new senior secured term loan facility; proceeds plus cash on hand to fund tender.
Early tender deadline March 7, 2023; expiration March 21, 2023; BofA Securities is dealer manager.
Tender offer conditioned on completion of financing transaction; no minimum tender condition.

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