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Rayonier completes pulp mill sale

Nov. 04, 2019 9:04 AM ETRayonier Advanced Materials Inc. (RYAM) StockBy: Yoel Minkoff, SA News Editor
  • Rayonier (NYSE:RYAM) has concluded its previously announced sale of the Matane, Quebec pulp mill and related assets to Sappi, a global diversified wood fiber company, for a total purchase price of $175M.
  • Net of fees, expenses and other adjustments, the company expects to receive approximately $150M.
  • As previously disclosed, $100M of the proceeds will be used to repay a portion of the company's senior secured credit facilities, with the remaining funds to be retained and used for general corporate purposes.
  • RYAM -6% premarket

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