Investor Relations - Timber and Real Estate Performance
Balance @
3/31/2017
Interest
Rate
$325.0
3.75%
Low-Cost Debt Structure & Attractive Maturity Profile
Debt Profile
($ in millions)
Senior Notes due 2022
Annual
Years to
Interest
% Fixed
Maturity (1)
$12.2
100.0%
5.0
Term Loan due 2024 (2)
350.0
3.33%
11.7
100.0%
7.4
■
Incremental Term Loan due 2026 (3)
300.0
2.82%
8.5
100.0%
9.1
Mortgage Notes due 2017
31.6
4.35%
1.4
100.0%
0.3
Highlights
Average rate of 3.27%
95% fixed-rate debt
Revolving Credit Facility due 2020
(4)
40.0
2.19%
1.1
3.4
NZ Working Capital Facility due 2017
11.3
2.60%
0.3
0.5
NZ Shareholder Loan (5)
Total/Weighted Avg.
16.5
$1,074.4
NA
NA
ΝΑ
NA
3.27%
$35.1
95.2%
6.7
Average maturity of 6.7
years
(1) As of 3/31/17; NZ working capital facility represents average maturity of two tranches; weighted average excludes NZ shareholder loan.
(2) Includes impact of interest rate swaps and estimated patronage payments.
(3) Assumes $200mm at 2.93% and $100 million at 2.59%; includes impact of interest rate swaps and estimated patronage payments.
(4) Interest on revolver includes unused facility fee of 0.175%.
(5) Minority share of New Zealand shareholder loan; does not represent third-party indebtedness.
($ in millions)
$400
$300
$200
$100
Maturity Profile
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027+
Highlights
■
Well-staggered maturity
profile
Nearest significant
maturity in 2022
No significant stacked
maturities
Rayonier has low-cost, primarily fixed-rate debt and a well-staggered maturity profile.
Rayonier
Investor Relations | May 2017
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