Item 1.01 Entry into a Material Definitive Agreement.
On August 27, 2025, PotlatchDeltic Corporation (the “Company”) and its wholly owned subsidiaries, PotlatchDeltic Forest Holdings, Inc. and PotlatchDeltic Land & Lumber, LLC (collectively, the “Borrowers”), entered into a Twelfth Amendment to Second Amended and Restated Term Loan Agreement (the “Amendment”) with the Guarantors party thereto, the Lenders party thereto, the Voting Participants party thereto and AgWest Farm Credit, PCA, as successor in interest to Northwest Farm Credit Services, PCA, as Administrative Agent (the “Administrative Agent”), amending the Second Amended and Restated Term Loan Agreement dated as of March 22, 2018 among the Borrowers, the Guarantors from time to time party thereto, the Lenders from time to time party thereto and the Administrative Agent (the “Loan Agreement”). Capitalized terms used and not otherwise defined herein have the meanings set forth in the Amendment.
Pursuant to the Amendment, the Lenders agreed to make an unsecured multi-segment Term Loan X in the total principal amount of $127,500,000, with an initial commitment of $100,000,000 and a step up in commitment and additional funding of $27,500,000. The Borrowers may elect to borrow Term Loan X as a Fixed Rate Loan, a Daily Simple SOFR Loan or a Term SOFR Loan, or a combination of them. A Fixed Rate Loan will bear interest at a rate computed according to the Administrative Agent’s customary methodology for computing the rate on Fixed Rate Loans. A Daily Simple SOFR Loan or Term SOFR Loan will bear interest at a rate equal to the applicable SOFR rate plus 2.30% per annum.
On August 27, 2025, the Lenders funded the initial commitment of $100,000,000 as a Daily Simple SOFR Loan, maturing on August 27, 2035, and bearing interest at a rate equal to Daily Simple SOFR plus 2.30% per annum. The proceeds of the initial commitment of Term Loan X were used to refinance Term Loan J under the Loan Agreement in the principal amount of $100,000,000.
The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit Number |
Description |
10.1 |
Twelfth Amendment to Second Amended and Restated Term Loan Agreement dated as of August 27, 2025 among PotlatchDeltic Corporation and its wholly owned subsidiaries, as borrowers, the guarantors party thereto, the lenders party thereto, the voting participants party thereto and AgWest Farm Credit, PCA, as administrative agent |
104 |
Cover Page interactive data file (Embedded within the Inline XBRL document) |