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Deltic Timber signs 10-year $100 million term loan agreement
By Wendy Van Sickle
Columbus, Ohio, Aug. 28 – Deltic Timber Corp. entered a 10-year $100 million term loan agreement Thursday with American AgCredit, PCA, according to an 8-K filed with the Securities and Exchange Commission.
The term loan facility has a fixed 4.05% interest rate and matures Aug. 27, 2025.
The loan has the same financial covenants as the company’s existing revolving credit agreement with SunTrust Bank as administrative agent.
Proceeds may be used to refinance existing debt and for working capital needs, acquisitions and other general corporate purposes.
The natural resources company is based in El Dorado, Ark.
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