Rayonier Advanced Materials Falls 10%; Not To Redeem Senior Notes Due 2024 Now

Shares of Chemical company Rayonier Advanced Materials Inc. (RYAM) are falling more than 10% Friday morning after the company said Rayonier A.M. Products Inc., a unit of the company, has decided not to pursue its opportunistic private offering of $325 million aggregate principal amount of senior secured notes due 2028.

The company said resultantly, it does not intend to redeem its senior unsecured notes due 2024, at this time.

RYAM is ate $6.05 currently. It has traded in the range of $2.44-$9.84 in the last 1 year.

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