May 14, 2018 / 9:39 PM / 4 months ago

BRIEF-CatchMark Led Partnership To Buy 1.1 Mln Acres Of East Texas Timberlands For $1.39 Bln

May 14 (Reuters) - CatchMark Timber Trust Inc:

* CATCHMARK LED PARTNERSHIP AGREES TO $1.39 BILLION ACQUISITION OF 1.1 MILLION ACRES OF PRIME EAST TEXAS TIMBERLANDS FROM CAMPBELL GLOBAL

* CATCHMARK TIMBER - CO TO FUND ITS INVESTMENT OF UP TO $227.5 MILLION IN JOINT VENTURE THROUGH BORROWINGS UNDER ITS MULTI-DRAW TERM LOAN AND CASH ON HAND

* CATCHMARK TIMBER TRUST - PROPERTY IS BEING SOLD BY CAMPBELL GLOBAL, ON BEHALF OF INSTITUTIONAL OWNERS OF PROPERTY

* CATCHMARK TIMBER TRUST INC - COBANK ACB WILL ACT AS AGENT FOR A LENDER SYNDICATE AND PROVIDE A $750 MILLION FINANCING FACILITY

* CATCHMARK TIMBER TRUST - DEAL ESTIMATED TO BE 2 PERCENT TO 3 PERCENT CAD ACCRETIVE IN YEAR ONE

* CATCHMARK - JOHN RASOR, CO’S CURRENT COO, TO TRANSITION TO SERVE AS PRESIDENT OF NEWLY FORMED JV COMPANY, WHICH TO BE NAMED TEXMARK TIMBER TREASURY Source text for Eikon: Further company coverage:

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