Rayonier Announces Initiatives To Enhance Shareholder Value; Targeting $1B Of Select Asset Sales Over The Next 18 Months; Announcing $242M Asset Sale In Oregon, First Step Toward Effectuating The Plan
Portfolio Pulse from Benzinga Newsdesk
Rayonier Inc. (NYSE:RYN) has announced a plan to sell $1 billion of select assets over the next 18 months, aiming to reduce its leverage to ≤3.0x Net Debt / Adjusted EBITDA and return capital to shareholders. The first step of this plan is the sale of 55,000 acres in Oregon for $242 million. The company aims to enhance shareholder value by capturing the disparity between public and private timberland values and reducing debt in a higher interest rate environment.
November 01, 2023 | 9:53 pm
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Rayonier's plan to sell $1 billion of assets and reduce its leverage could potentially enhance shareholder value and strengthen its balance sheet. The first step, a $242 million asset sale in Oregon, is already underway.
The company's plan to sell assets and reduce leverage is a strategic move to enhance shareholder value and strengthen its balance sheet. The sale of assets will help reduce the company's debt, which is particularly beneficial in a higher interest rate environment. The first step of this plan, the sale of 55,000 acres in Oregon, is already underway and represents a significant step towards achieving the company's goals.
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