Clearwater Paper Corporation (NYSE: CLW) has refinanced its senior notes due in 2028 and replaced its existing credit facilities with a new term loan and revolving credit facility, extending the company's debt maturities to 2031.

The company entered into an amended and restated credit agreement on September 18, 2026, with AgWest Farm Credit, PCA, as administrative agent, and a syndicate of lenders.

The new financing package includes a $200 million revolving credit facility, with approximately $15 million outstanding at closing, and a $275 million term loan facility that was fully funded at closing. The revolving credit facility also includes an uncommitted $100 million increase option, subject to lender participation, delivery of 2027 year-end financial statements, and other conditions.

Proceeds from the new credit agreement were used to pay off and terminate the existing ABL credit facility and to redeem Clearwater Paper's $275 million senior notes due 2028 in full. The new credit agreement matures on September 18, 2031.

"This refinancing extends our debt maturities and provides greater certainty as we execute our long-term strategy," said Arsen Kitch, President and CEO.

Additional details are available in Clearwater Paper's Current Report on Form 8-K filed with the Securities and Exchange Commission on September 21, 2026.