RYAM Initiates Cash Tender Offer for 7.625% Senior Secured Notes due 2026

On October 29, 2024, Rayonier Advanced Materials Inc. (NYSE: RYAM) announced the commencement of a cash tender offer by its wholly-owned subsidiary, Rayonier A.M. Products Inc., to acquire any and all of the Issuer’s outstanding 7.625% Senior Secured Notes due 2026. The aggregate principal amount of the notes outstanding as of the announcement date was $452,640,000.

The tender offer, which began on October 29, 2024, will expire at 5:00 p.m., New York City time, on November 4, 2024, unless extended or terminated earlier as detailed in the Offer to Purchase. Holders who validly tender their notes before the Expiration Date stand to receive $1,000 in cash as consideration for each $1,000 principal amount of notes accepted, along with accrued and unpaid interest up to the settlement date expected on November 7, 2024.

The completion of the tender offer is subject to various conditions, including the Issuer’s execution of debt financing transactions adequate to fund the purchase of the notes and associated costs. The offer is not contingent on a minimum amount of notes being tendered. The Issuer may choose to legally defease its obligations under any notes that are not tendered and purchased in the offer.

Holders of the notes are encouraged to review the Offer to Purchase and Notice of Guaranteed Delivery carefully. Further information can be obtained from Global Bondholder Services Corporation, the information and tender agent for the offer, or by contacting the sole dealer manager, Houlihan Lokey Capital, Inc.

It is important to note that neither the Company, the Issuer, nor any affiliated parties are recommending whether holders should participate in the tender offer. Holders are advised to make independent decisions on tendering their notes.

The tender offer is being conducted strictly in compliance with applicable laws and regulations. It is imperative to reference the Offer to Purchase and Notice of Guaranteed Delivery for comprehensive details regarding the offer and its terms.

About RYAM, the global leader in cellulose-based technologies, RYAM specializes in high purity cellulose specialties utilized in various industrial applications. The Company’s revenue for 2023 totaled $1.6 billion, derived from operations in the U.S., Canada, and France.

This news release does not constitute a purchase offer or solicitation for selling securities. It is important to rely only on the official documentation for participation. Any forward-looking statements made are subject to inherent risks and uncertainties, and actual results may differ from those projected. For detailed risk factors, readers are encouraged to refer to the filings with the U.S. Securities and Exchange Commission made by RYAM and the Issuer.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Rayonier Advanced Materials’s 8K filing here.

Rayonier Advanced Materials Company Profile

Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Latin America, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. It operates through High Purity Cellulose, Paperboard, and High-Yield Pulp segments. The company’s products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, cigarette filters, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.