secwatch.observer — SEC 8-K summary
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Issuer:     Sylvamo Corp (SLVM)
CIK:        0001856485
Form:       8-K
Filed at:   2023-03-10T23:59:59+00:00
Accession:  0001193125-23-067585
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sylvamo completes tender for 79.9% of 7% notes due 2029; adds $300M term loan
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- $359.5M principal of 7.000% Senior Notes due 2029 tendered (79.9% of outstanding) at $1,000/$1,000 par plus $30 early tender premium.
- Total cost of tendered notes is $360.1M, financed via new $300M term loan A facility and revolver borrowings.
- Second supplemental indenture eliminates substantially all restrictive covenants and certain defaults on the remaining notes.
- Credit agreement amended to permit the repurchase and add $300M term loan A (SOFR+1.75%, 5-year maturity, quarterly 1.25% amortization).
- Remaining notes may be tendered until March 21, 2023 at $970/$1,000 principal plus accrued interest.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1856485/000119312523067585/0001193125-23-067585-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1856485/000119312523067585/d481610d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-067585

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