Rayonier calls $25 million 7 5/8% notes, repurchases $126.5 million 5½% notes

By Wendy Van Sickle

Columbus, Ohio, Sept. 22 – Rayonier Advanced Materials Inc. plans to redeem $25 million of its 7 5/8% senior secured notes due 2026.

The 2026 notes will be redeemed under the special asset sale redemption provisions of the indenture at a price of 103 plus accrued interest thereon to the redemption date of Oct. 7.

In addition, the company announced today that during its current fiscal quarter it has repurchased about $126.5 million of its 5½% senior notes due 2024 through open-market transactions and has retired those notes for roughly $123.5 million.

Rayonier is a real estate investment trust, timberland management and cellulose fiber producer based in Wildlight, Fla.

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