PotlatchDeltic adds $277.5 million term loans as CatchMark acquired

By Wendy Van Sickle

Columbus, Ohio, Sept. 14 – PotlatchDeltic Corp. and its wholly owned subsidiaries, PotlatchDeltic Forest Holdings, Inc. and PotlatchDeltic Land & Lumber, LLC, entered into an amendment on Wednesday to their second amended and restated term loan agreement dated March 22, 2018 with Northwest Farm Credit Services, PCA as administrative agent for $277.5 million of additional term loans in two parts.

The $138.75 million term loan Q matures on Sept. 1, 2027, and the $138.75 million term loan R matures on Sept. 1, 2030.

The term loans were entered in connection with the refinancing of $277.5 million of debt acquired in the company’s acquisition of Atlanta-based CatchMark Timber Trust Inc.

The additional loans bear interest at one-month SOFR plus 200 basis points. The term loan R provides for a cost-of-capital reset at year five.

The Spokane, Wash.-based real estate investment trust owns timberland in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi.

© 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.