UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 2, 2022
RESOLUTE FOREST PRODUCTS INC.
(Exact name of registrant as specified in its charter)
| | | | | | | | |
| Delaware | 001-33776 | 98-0526415 |
(State or other jurisdiction
of incorporation) | (Commission
File Number) | (IRS Employer
Identification No.) |
Resolute Forest Products Inc.
1010 De La Gauchetière Street West, Suite 400
Montreal, Quebec, Canada H3B 2N2
(Address, including zip code, of principal executive offices)
Registrant’s telephone number, including area code: (514) 875-2160
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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| Title of class | | Trading Symbol | | Name of exchange
on which registered |
| Common Stock, par value $0.001 per share | | RFP | | New York Stock Exchange |
| | | | Toronto Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 8.01 OTHER EVENTS.
Resolute Forest Products, Inc. (the “Company”) is a party to a senior secured credit facility (the “Senior Secured Credit Facility”) with various lenders and American AgCredit, FLCA, as administrative agent and collateral agent. The Senior Secured Credit Facility provides for a term loan facility of up to $180 million and a revolving credit facility of up to $180 million. As of the date of this Current Report on Form 8-K, no borrowings are outstanding under the Senior Secured Credit Facility.
The obligations under the Senior Secured Credit Facility have been secured by a first priority mortgage on the real property of the Company’s pulp, paper and tissue facility in Calhoun, Tennessee and a first priority security interest on the fixtures and equipment located therein. As previously disclosed, the Company indefinitely idled the Calhoun pulp and paper operations in early 2022. On March 2, 2022, the Company entered into agreements to provide the following additional security under the Senior Secured Credit Facility: (i) a first priority mortgage on the real property of the Company’s sawmill facilities in Glenwood and El Dorado, Arkansas and a first priority security interest on the fixtures and equipment located therein, and (ii) a first priority security interest on the fixtures and equipment at the Company’s sawmill facilities in Cross City, Florida. The Company also expects to grant a first priority mortgage on the real property of its sawmill facilities in Cross City later in 2022.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| | RESOLUTE FOREST PRODUCTS INC. |
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| | By: | /s/ Stephanie Leclaire |
| Date: March 2, 2022 | | | Name: Stephanie Leclaire |
| | | Title: Senior Vice President and Chief Legal Officer |
