RYAM - Rayonier Advanced Materials pulls $325M bond deal

Rayonier Advanced Materials ( NYSE: RYAM ) -2% pre-market Friday after saying its Rayonier A.M. Products unit will not pursue its planned $325M offering of senior unsecured notes, as current terms and conditions were "not sufficiently attractive."

Rayonier ( RYAM ) said it will continue to monitor capital markets and is prepared to refinance its 5.5% unsecured senior notes, which mature in June 2024; the company expects to "obtain an acceptable refinancing at the appropriate time, as it continues to improve its debt to EBITDA ratio."

Earlier this week, Rayonier Advanced Materials ( RYAM ) said it estimates Q4 revenues will exceed analyst consensus .

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