Roseburg Forest Products Co. is refinancing its revolver and putting in place its first "B" loan. Credit Suisse First Boston is leading the $350 million term loan portion while American AgCredit and US Bank are leading the $250 million revolver.
Roseburg jumped on a "B" loan because of the current market conditions, noted Scott Nelson , the company's treasurer. "It's a very attractive market right now and it looked like a good opportunity," Nelson said. Roseburg's revolver was set to mature in 2004. "We're just doing a routine refinancing," he added. Pricing has not been determined, but Nelson said they expect the spread to be in the low 200s. Roseburg has had a relationship with all three banks, Nelson said. Bank of America previously led the company's revolver. Roseburg is a supplier of wood products.