Resource Management Service to get bank financing via GE and RBS

By Sara Rosenberg

New York, April 6 - Resource Management Service LLC will obtain new bank financing via joint lead arrangers GE Capital Markets and RBS Securities to help fund its purchase of timberlands from International Paper Co., according to a market source.

Resource Management Service is buying 3.8 million acres of forestlands located across the southern United States and 440,000 acres in Michigan from International Paper for about $5 billion in cash and notes at closing.

Resource Management is a Birmingham, Ala., independent timberland investment-management firm.

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