This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Potlatch Announces New $250 Million Senior Unsecured Credit Facility

SPOKANE, Wash., Dec. 11, 2012 (GLOBE NEWSWIRE) -- Potlatch Corporation (Nasdaq:PCH) today announced the closing of a new five-year $250 Million Senior Unsecured Revolving Credit Facility with a syndicate of financial institutions, led by Bank of America Merrill Lynch and KeyBanc Capital Markets, Inc. The credit agreement also includes an optional increase in aggregate commitment amount of up to $100 million, subject to certain conditions.  This agreement replaces the company's existing secured credit agreement maturing in December 2013 with significantly improved terms.  As of the end of the company's most recent reported quarter ended September 30, 2012, no amounts were outstanding under the prior agreement.

"We are pleased to replace our existing secured credit facility with this new unsecured facility with much improved terms, demonstrating the continued improvement of fundamentals in our business, driven by the U.S. housing recovery," said Eric Cremers, Potlatch Corporation Executive Vice President and Chief Financial Officer. "This new credit facility provides us additional financial flexibility and additional liquidity to operate the business."

The company intends to use the Senior Unsecured Revolving Credit Facility to provide additional liquidity and general corporate purposes.  Terms and conditions of the credit facility will be described in the company's filings with the Securities and Exchange Commission.

ABOUT POTLATCH

Potlatch is a Real Estate Investment Trust (REIT) with approximately 1.43 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. For more information about the company, visit our website at www.potlatchcorp.com .

The Potlatch Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11346

CONTACT: (Investors)
         Eric Cremers
         509-835-1521
         
         (Media)
         Mark Benson
         509-835-1513

Potlatch Corporation Logo

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs