Rayonier (RYN) Prices $325 Million in 3.75% Senior Notes due 2022

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Rayonier (NYSE: RYN) announced today that it has priced an underwritten public offering of $325 million aggregate principal amount of senior notes due 2022. The notes will have a coupon of 3.75% per year and mature on April 1, 2022. The Company will pay interest on the notes semi-annually on April 1 and October 1 of each year, beginning on October 1, 2012.

Rayonier intends to use the net proceeds from the offering primarily to repay borrowings outstanding under its revolving credit facility and for general corporate purposes. The senior notes offering is expected to close on March 5, 2012.

Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, and Credit Suisse Securities (USA) LLC are the joint book-running managers of the offering.

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