RYAM amends term loan credit agreement for financial covenant relief through FY 2024

RAYONIER ADVANCED MATERIALS INC.

Amendment increases max consolidated secured net leverage ratio to 5.25x for Q4 2023 through Q2 2024.
Ratio steps down to 5.00x (Q3 2024), 4.75x (Q4 2024), then 4.50x thereafter.
RYAM pays lenders certain fees in connection with the amendment.
CEO states amendment provides operational flexibility and liquidity to execute strategy.

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 Term Loan Credit Agreement with Oaktree Fund Administration, LLC, as administrative agent, and the lenders party thereto (effective 2024-01-02).

Action: amendment
Agreement: credit facility
Counterparty: Oaktree Fund Administration, LLC, as administrative agent, and the lenders party thereto
Effective: 2024-01-02

Exact text from the filing

entered into Amendment No. 1 to Term Loan Credit Agreement (the “Amendment”) with RYAM and its other subsidiaries party thereto, the lenders party thereto and Oaktree Fund Administration, LLC, as administrative agent.

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RAYONIER ADVANCED MATERIALS INC. filing history →

Source: SEC EDGAR

accession 0001193125-24-001028

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