Resolute Forest grants additional security under credit agreement

By Wendy Van Sickle

Columbus, Ohio, March 2 – Resolute Forest Products Inc. amended its senior secured credit agreement providing for a $180 million term loan and a $180 million revolver on Wednesday to add further security, according to an 8-K filed with the Securities and Exchange Commission.

The amendment grants a first priority mortgage on the real property of the company’s sawmill facilities in Glenwood and El Dorado, Ark., and a first priority security interest on the fixtures and equipment therein, and a first priority security interest on the fixtures and equipment at the company’s sawmill facilities in Cross City, Fla.,

The company also expects to grant a first priority mortgage on the real property of its sawmill facilities in Cross City later in 2022.

American AgCredit, FLCA, is the administrative agent.

Resolute is a Montreal-based pulp, paper, tissue and wood products manufacturer.

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