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Rayonier A.M. Products to redeem $318 million 5½% notes due 2024
By Wendy Van Sickle
Columbus, Ohio, July 20 – Rayonier A.M. Products Inc. will fully redeem its $318 million principal amount of 5½% notes due 2024 at par plus accrued interest to the redemption date of Aug. 19, according to an 8-K filed with the Securities and Exchange Commission.
The redemption will be funded with proceeds of a $150 million pari passu credit agreement with Rayonier Advanced Materials Inc. as borrower and its wholly owned subsidiary RYAM Lux Sarl as lender as well as cash on hand.
Computershare Trust Co., NA is the trustee
Rayonier is a Jacksonville, Fla.-based provider of cellulose materials for various applications.
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