Clearwater Paper Refinances With $275m Term Loan and $200m Revolver

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Clearwater Paper has completed a refinancing that replaces its term revolver, its existing asset-based lending revolving facility and its senior notes maturing in 2028 with a new term loan and a new revolving credit line. Under the package, the company secured a $200m revolving credit facility, with $15m drawn at the closing date, and put in place a $275m term loan that was fully funded when the transaction closed. The revolving facility carries an uncommitted option to increase capacity by a further $100m, subject to lender participation, submission of the company's 2027 year-end financial statements and other standard conditions. Proceeds were used to repay and terminate the existing ABL facility and to cover the redemption price for the company's outstanding $275m senior notes due in 2028, which are to be redeemed in full. The new agreement, signed this month with AgWest Farm Credit acting as administrative agent alongside a lender syndicate, runs for five years and matures in September 2031, extending Clearwater Paper's long-term debt maturity timetable. President and CEO Arsen Kitch said the refinancing extends the company's debt maturities and provides greater certainty as it executes its long-term strategy.

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Materials▲ · 1 stocks
Clearwater Paper Corporation
CLW
▲ PositiveCapitalrelevance

Clearwater Paper refinanced, replacing its ABL facility and 2028 senior notes with a $275m term loan and $200m revolver, extending debt maturities to 2031.

Off-coverage companies 1

AgWest Farm CreditPrivate± Mixed
Capitalrelevance

AgWest Farm Credit acts as administrative agent on Clearwater Paper's new five-year refinancing package, a role mention with no financial impact stated.

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