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CatchMark Timber Trust boosts credit facilities to $638M

CatchMark Timber Trust Inc. expanded its credit facilities to $638 million from $500 million.

The refinanced credit facilities include a $265 million, seven-year multi-draw term loan; a $100 million, seven-year term loan; a $119 million, nine-year term loan; a $119 million, 10-year term loan; and a $35 million, five-year revolving line of credit.

The company said the refinancing extends its debt maturities to 2027 and gives it more capital for joint-venture investments, future acquisitions and share repurchases, among other general corporate purposes.

CoBank ACB led the syndicate of lenders for the facilities.