Resolute Forest gets amended, restated $360 million credit facility

By Sarah Lizee

Olympia, Wash., Oct. 29 – Resolute Forest Products Inc. entered into an amended and restated senior secured credit agreement for up to $360 million, replacing the company's existing $185 million senior secured credit facility, according to a press release.

The amended and restated credit agreement includes a $180 million term loan and a $180 million six-year revolver.

The term loan is available with a delayed-draw period of up to three years, and the choice of maturities of six to 10 years from the date of drawing.

At closing, the company repaid its $46.25 million term loan by borrowing under its new revolver. Future borrowings under the senior secured credit facility will be used for general corporate purposes.

The credit agreement also provides for an uncommitted option to increase the facility by up to an additional $360 million, subject to some terms and conditions.

The amended credit agreement was arranged and syndicated by American AgCredit.

The independent oil and natural gas exploration and production company is based in Denver.

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