SPOKANE, Wash., Aug. 12, 2014 (GLOBE NEWSWIRE) -- Potlatch Corporation (Nasdaq:PCH) today announced the closing of an amended and restated $250 million Senior Unsecured Revolving Credit Facility with a syndicate of financial institutions led by KeyBanc Capital Markets, Inc. and Bank of America Merrill Lynch. The credit agreement matures in February 2020 and includes an optional increase in the aggregate commitment of up to an additional $250 million, subject to certain conditions. No amounts were outstanding under the prior agreement.
"We are pleased to secure improved pricing and other terms that reflect Potlatch's status as an investment-grade issuer," said Jerry Richards, Potlatch Corporation Vice President and Chief Financial Officer. "The amended credit facility provides us the flexibility and liquidity necessary to operate the business into 2020."
Terms and conditions of the credit facility will be described in the company's filings with the Securities and Exchange Commission.
Potlatch is a Real Estate Investment Trust (REIT) with approximately 1.4 million acres of timberland in Arkansas, Idaho and Minnesota. Potlatch, a verified forest practices leader, is committed to providing superior returns to stockholders through long-term stewardship of its forest resources. The company also conducts a land sales and development business and operates wood products manufacturing facilities through its taxable REIT subsidiary. More information about Potlatch can be found on the company's website at www.potlatch.com.
CONTACT: (Investors) Jerry Richards 509.835.1521 (Media) Mark Benson 509.835.1513