Potlatch draws $27.3 million under $175 million credit facility

By Laura Lutz

Des Moines, Jan. 11 - Potlatch Corp. drew down $27.3 million under its credit facility, according to an 8-K filing with the Securities and Exchange Commission.

Potlatch borrowed the funds in connection with the second closing of an acquisition of timberland from Western Pacific Timber, LLC.

The facility was increased to $175 million from $125 million on Dec. 22, 2005. Before the recent draw, about $140 million was available. Bank of America, NA is the administrative agent.

The loan currently bears interest at Libor plus 112.5 basis points.

Borrowings under the facility can carry an interest rate ranging from Libor plus 62.5 to 162.5 bps, depending on funded debt to capitalization, with the initial rate set at Libor plus 87.5 bps.

Potlatch is a Spokane, Wash.-based diversified forest products company.

© 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.