Domtar restates credit agreement, lifting availability to $700 million

By Wendy Van Sickle

Columbus, Ohio, Aug. 19 – Domtar Corp. amended and restated its credit agreement on Thursday, increasing the availability by $100 million to $700 million, according to an 8-K filing with the Securities and Exchange Commission.

The credit agreement’s maturity was extended to Aug. 18, 2021.

Borrowings will bear interest at the same rate as under the existing credit agreement, dated Oct. 3, 2014.

The agreement contains two financial covenants: a minimum interest coverage ratio of 3 times and a maximum leverage ratio of 3.75 times.

Domtar makes paper and other fiber-based products and is based in Fort Mill, S.C.

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