secwatch.observer — SEC 8-K summary
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Issuer:     Clearwater Paper Corp (CLW)
CIK:        0001441236
Form:       8-K
Filed at:   2023-10-27T23:59:59+00:00
Accession:  0001504337-23-000035
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Clearwater Paper refinances $270M 5.375% Notes due 2025 with new AgWest facility
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- Entered $270M revolving credit facility with AgWest Farm Credit; $150M drawn to partially fund redemption of 5.375% senior notes due 2025.
- All $270M principal of 5.375% Senior Notes due 2025 to be redeemed Nov 27, 2023; expects redemption premium of $2.7M plus $4.7M accrued interest.
- New borrowings bear interest at SOFR + 3.65%; initial $150M draw is a 1-year fixed-rate loan at 9.13%.
- New facility matures Oct 27, 2028 or earlier 91 days before 4.750% 2028 Notes maturity, subject to liquidity test.
- Obligations secured by substantially all personal property of the Company and domestic subsidiary guarantors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1441236/000150433723000035/0001504337-23-000035-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1441236/000150433723000035/clw-20231027.htm
  HTML page:      https://secwatch.observer/filing/0001504337-23-000035

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