Clearwater Paper Completes Refinancing of Credit Facilities
Clearwater Paper has completed the refinancing of its credit facilities with a new loan package that includes a $200 million revolving credit facility and a $275 million term loan. The funds were used to repay existing debt, including the company's outstanding senior notes due in 2028. This refinancing extends Clearwater Paper’s long-term debt maturity schedule until September 2031. The new agreement was signed with AgWest Farm Credit as administrative agent and a lender syndicate. The revolving credit facility includes an uncommitted option to increase capacity by $100 million, subject to certain conditions such as submission of the company's 2027 financial statements. Clearwater Paper’s CEO highlighted that this refinancing provides greater certainty for executing its long-term strategy. The move follows recent business developments like launching Circa paperboard in collaboration with Greenpaper and supplying packaging products across North America.
Tickers: $CLW
Topics: corporate finance credit facilities debt refinancing