News

 

Greenwich, CT, November 4, 2024 – Silver Point Finance, the direct lending business of Silver Point Capital, L.P., today announced that it served as a lender in a refinancing transaction of the outstanding debt of Rayonier Advanced Materials Inc. (NYSE: RYAM) (“RYAM”), the global leader in High Purity Cellulose. The proceeds of the new five-year, $700 million senior secured term loan facility, along with cash from the company’s balance sheet, will be used to purchase, defease and redeem RYAM’s existing 2026 senior secured notes, and to repay RYAM’s existing 2027 secured term loan financing in full.

 

RYAM provides sustainable solutions that empower manufacturers worldwide to create environmentally-efficient products. In addition to creating the world’s leading high purity cellulose products, RYAM’s specialized assets are also used to produce biofuels, bioelectricity and other biomaterials.

 

“Our team is pleased to work alongside our partners to deliver this refinancing solution for RYAM that further advances its leadership in the sustainable materials sector,” said Anthony DiNello, Head of Silver Point Finance. “This refinancing strengthens RYAM’s capital structure and supports investments which will fuel the growth of its biomaterials strategy, and we look forward to playing a role in the company’s continued success.”

 

RYAM is a global leader of cellulose-based technologies, including high purity cellulose specialties, a natural polymer commonly used in the production of filters, food, pharmaceuticals and other industrial applications. RYAM’s specialized assets, capable of creating the world’s leading high purity cellulose products, are also used to produce biofuels, bioelectricity and other biomaterials such as bioethanol and tall oils. The Company also manufactures products for paper and packaging markets. With manufacturing operations in the U.S., Canada and France, RYAM generated $1.6 billion of revenue in 2023. More information is available at www.RYAM.com.

 

For over 20 years, Silver Point Finance has been an active participant in the direct lending market, providing customized financing solutions to middle-market companies across a broad range of industries. SPF's transactions support acquisitions, refinancings, bridge loans, growth capital, balance sheet restructurings and leveraged recapitalizations. Along with its affiliates, SPF manages approximately $13 billion in investable capital. SPF is the direct lending business of Silver Point Capital, L.P., a leader in global credit investing that oversees the management of approximately $33 billion in investable capital. For more information, please visit silverpointfinance.com