Rayonier Restructures Credit Facilities After PotlatchDeltic Merger

Rayonier ( (RYN) ) has provided an update.

On January 30, 2026, Rayonier Inc. and several affiliated borrowers, including entities tied to the recently combined PotlatchDeltic operations, entered into a Second Amended and Restated Credit Agreement that consolidates and updates prior credit and term loan arrangements into $1.8095 billion of senior unsecured credit facilities. The package comprises a $200 million revolving credit facility maturing in 2030 and $1.6095 billion in term loans with staggered maturities through 2035, all cross‑guaranteed among the borrowers and further backed by key PotlatchDeltic subsidiaries, with interest rates tied to SOFR benchmarks and leverage-based margins, plus the option—at lenders’ discretion—to upsize the revolver and add incremental term loans, subject to leverage limits and customary covenants. The agreement embeds leverage and interest coverage covenants, standard restrictions on dividends, liens, timber and timberland dispositions and other corporate actions, and provides for potential patronage refunds from Farm Credit system lenders, collectively shaping Rayonier’s capital structure and financial flexibility following its merger of equals with PotlatchDeltic, which closed on January 30, 2026. In a leadership development following the merger’s completion, the company disclosed that Executive Vice President and Chief Resource Officer Douglas M. Long will retire effective February 13, 2026, signaling an early management transition in the combined organization.

The most recent analyst rating on (RYN) stock is a Buy with a $26.00 price target. To see the full list of analyst forecasts on Rayonier stock, see the RYN Stock Forecast page.

Spark’s Take on RYN Stock

According to Spark, TipRanks’ AI Analyst, RYN is a Outperform.

The score is driven primarily by solid underlying profitability and balance-sheet leverage, but held back by the steep decline in free-cash-flow growth and modest revenue contraction. Valuation is a notable positive (low P/E and high yield), while technical indicators are mildly supportive. Earnings-call guidance and the merger approval add incremental upside, though operational challenges in certain timber markets remain a key risk.

To see Spark’s full report on RYN stock, click here.

More about Rayonier

Rayonier Inc. is a timberland-focused real estate investment trust (REIT) operating through multiple borrowing subsidiaries, including Rayonier Operating Company and Rayonier, L.P., as well as PotlatchDeltic-affiliated entities following their merger. The company’s business centers on managing and monetizing timber and timberlands, with financing relationships that include lenders organized under the Farm Credit Act of 1971, reflecting its focus on the forestry and wood products sector.

Average Trading Volume: 2,060,062

Technical Sentiment Signal: Strong Sell

Current Market Cap: $3.67B

Find detailed analytics on RYN stock on TipRanks’ Stock Analysis page.