Clearwater Paper Replaces Debt with $475M Facility, Redeems 2028 Notes
CLW sits 78% above its 52-week low of $11.73.
Summary
Clearwater Paper completed a comprehensive refinancing, replacing its existing 2028 senior notes, term revolver, and ABL facility with a new five-year $475 million credit package maturing September 18, 2031. The structure includes a $275 million term loan fully drawn to redeem the outstanding 2028 notes, and a $200 million revolving credit facility with about $15 million drawn at closing. The company also secured a $100 million uncommitted option to expand the revolver, subject to lender participation and delivery of 2027 year-end financials. This follows the Q2 net loss of $21.5 million reported in July, and the refinancing extends maturities while providing additional liquidity. The new agreement terminates the prior ABL facility and pays off the 2028 notes in full.
At the time of this announcement, CLW was trading at $20.90 on NYSE in the Manufacturing sector, with a market capitalization of approximately $336.9M. The 52-week trading range was $11.73 to $23.59. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.