RAYONIER ADVANCED MATERIALS INC. Rayonier Advanced Materials Inc. announced that it has entered into a Term Loan Credit Agreement certain of its other subsidiaries, certain funds managed by Oaktree Capital Management, L.P., as lenders, Oaktree Fund Administration, LLC, as administrative agent and Computershare Trust Company, N.A., as collateral agent to issue term loan for the gross proceeds of $250,000,000 on July 20, 2023. The Term Loan Credit Agreement provides for a senior secured term loan facility. The Term Loan Facility bears interest at a rate per annum equal to three-month Term SOFR plus 8.00%.
The Term Loan Facility matures on the four year anniversary of the Closing Date and amortizes in equal quarterly installments of 0.50% of the initial principal amount, commencing with the first full fiscal quarter after the Closing Date. The loans will be matured on July 20, 2027.
