RYAM - Rayonie Advanced guides Q4 and FY22 revenue above consensus commences $325M private placement

• Rayonier Advanced Materials ( NYSE: RYAM ) estimates Q4 revenue in the range of $488M to $508M vs consensus of $436.36M

• Q4 lncome (loss) from continuing operations expected in the range of $(1)M to $3M and adjusted EBITDA of $52M to $56M, inclusive of the previously disclosed force majeure event.

• For FY22 revenue estimated to be $1.70B to $1.72B vs consensus of $1.65B .

• FY22 loss from continuing operations expected in the range of $28M to $32M and adjusted EBITDA of $174M to $178M, inclusive of the previously disclosed force majeure event.

• Additionally, the company announced that its wholly owned subsidiary, Rayonier A.M. Products, has commenced a private offering of $325M aggregate principal amount of senior secured notes due 2028.

• The company intends to use the net proceeds from the sale of the notes, together with cash on hand, to redeem in full its senior unsecured notes due 2024.

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