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Stock impact report

RYAM Raises €67 million Green Capital to Invest in its Biomaterials Strategy

Rayonier Advanced Materials Inc. (RYAM) 
Last rayonier advanced materials inc. earnings: 2/25 08:29 pm Check Earnings Report
US:NYSE Investor Relations: investors.rayonieram.com
Company Research Source: Business Wire
JACKSONVILLE, Fla.--(BUSINESS WIRE)--Rayonier Advanced Materials Inc. (NYSE: RYAM) (the “Company” or “RYAM”), the global leader in High Purity Cellulose, announced it has raised a €67 million in green capital. The financing includes €37 million in secured term loans from French banks Crédit Lyonnais, Arkéa Banque, and BNP Paribas at an initial floating rate of approximately 5 percent, maturing in seven years. An additional €30 million in preferred equity will be provided by Swen Capital Partners through its strategy SWEN Impact Fund for Transition 3 for a 20% stake in the newly formed subsidiary, RYAM BioNova S.A.S.SWEN’s investment in BioNova reflects a valuation of greater than $160 million for the new entity. Proceeds from the capital raise will be used to invest in projects to grow BioNova including a second-generation bioethanol plant and a prebiotics project."The formation of BioNova and this latest round of financing are pivotal in our strategic push into biomaterials," sai Show less Read more
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