Rayonier amends revolver, term loan to incur debt for planned spinoff

By Susanna Moon

Chicago, May 7 - Rayonier Inc. amended its five-year revolving credit agreement and its term loan agreement on Tuesday for its planned separation of its performance fibers business, according to an 8-K filing with the Securities and Exchange Commission.

The company amended the loan terms to permit incurring debt in connection with the proposed separation and subsequent distribution to its shareholders of all of the outstanding common shares of Rayonier Advanced Materials Inc., a wholly owned subsidiary of the company that will hold, directly or indirectly, the assets and liabilities associated with the company's performance fibers business.

Rayonier is a Jacksonville, Fla.-based forest products company.

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