Clearwater Paper ups ABL agreement to $275 million, extends to 2027

By Mary-Katherine Stinson

Lexington, Ky., Nov. 9 – Clearwater Paper Corp. on Nov. 7 entered a third amendment to its ABL credit agreement dated July 26, 2019 to increase the maximum commitments to $275 million from $250 million and extend the maturity date to Nov. 7, 2027, according to an 8-K filing with the Securities and Exchange Commission.

In addition, provisions were added to adopt SOFR as the benchmark rate replacing Libor.

SOFR loans will have a margin between 125 basis points and 175 bps. The commitment fee is between 25 bps and 37.5 bps.

JPMorgan Chase Bank, NA is the administrative agent.

JPMorgan Chase Bank, NA, Wells Fargo Bank, NA and Bank of America, NA were listed as joint bookrunners.

Clearwater Paper is a Spokane, Wash.-based pulp and paper product manufacturer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.