Rayonier A.M. Products plans $615 million credit facility for spinoff

By Sara Rosenberg

New York, May 5 - Rayonier A.M. Products LLC plans on getting a new $625 million credit facility in connection with its spinoff from Rayonier Inc., according to a 10-12B recently filed with the Securities and Exchange Commission.

The facility is expected to consist of $375 million of term loans and a $250 million revolver.

The company also intends to issue $500 million of notes.

Proceeds from the debt will fund cash transfers of about $950 million to Rayonier and be available for working capital and general corporate purposes.

Rayonier A.M. is a Jacksonville, Fla.-based producer of high-purity cellulose.

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