RAYONIER ADVANCED MATERIALS INC. (NYSE:RYAM) Files An 8-K Entry into a Material Definitive Agreement
Item1.01
| Entry Into a Material Definitive Agreement. |
On June5, 2017, in connection with the previously announced
acquisition by Rayonier Advanced Materials Inc., a Delaware
corporation (the Company), of Tembec Inc., a corporation
continued and existing under the laws of Canada (the
Acquisition), to that certain Arrangement Agreement, dated as of
May24, 2017 (the Arrangement Agreement Signing Date), the
Company, Rayonier A.M. Products Inc., a Delaware corporation (the
Borrower), and certain of their subsidiaries entered into the
First Amendment (the First Amendment) to that certain Credit
Agreement, dated as of June24, 2014 (as amended, supplemented or
otherwise modified prior to the date of the First Amendment, the
Existing Credit Agreement), among the Borrower, the Company, the
subsidiary loan parties from time to time party thereto, the
lenders from time to time party thereto, and Bank of America,
N.A., as administrative agent and collateral agent. The First
Amendment amended the Existing Credit Agreement to, among other
things, provide that in connection with the Acquisition and
certain transactions in connection therewith, certain financial
ratios thereunder will be tested as of the Arrangement Agreement
Signing Date rather than as of the date the Acquisition or such
other transactions are consummated.
The description above of the First Amendment is qualified in its
entirety by reference to the terms of the First Amendment, a copy
of which is filed as Exhibit 10.1 and is incorporated herein by
reference.
| Item9.01. | Financial Statements and Exhibits. |
(d) Exhibits
|
Exhibit Number |
Description |
|
| 10.1 |
First Amendment, dated as of June5, 2017, among Rayonier A.M. Products Inc., as Borrower, Rayonier Advanced Materials Inc., as Designated Borrower, Holdings and as a Guarantor, the Subsidiary Loan Parties party thereto, the Lenders party thereto, and Bank of America, N.A., as administrative agent and collateral agent |
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to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Dated: June6, 2017
| Rayonier Advanced Materials Inc. (Registrant) | ||
| By: | /s/ Michael R. Herman | |
| Name: | Michael R. Herman | |
| Title: |
Senior Vice President, General Counsel and Corporate Secretary |
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About RAYONIER ADVANCED MATERIALS INC. (NYSE:RYAM)
Rayonier Advanced Materials Inc. is engaged in producing cellulose specialties. The Company’s product lines include cellulose specialties and commodity products. These products are sold throughout the world to companies for use in various industrial applications and to produce a range of products, including cigarette filters, foods, pharmaceuticals, textiles and electronics. The Company also produces commodity products, primarily commodity viscose and absorbent materials. The Company produces various forms of cellulose specialties products, such as cellulose acetate and high-purity cellulose ethers, and is a supplier of these products. Its production facilities in Jesup, Georgia and Fernandina Beach, Florida, have a combined annual cellulose specialties production capacity of approximately 485,000 metric tons of cellulose specialties and over 245,000 metric tons to commodity products.
