Rayonier Trs Holdings Inc.
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A holding company within Rayonier Inc., a timberland real estate trust that sustainably manages millions of acres of forests in the United States and New Zealand, selling standing timber and logs to paper mills and wood-products makers. The business began in 1926 as the Rainier Pulp and Paper Company, named for Mount Rainier visible from its mill in Shelton, Washington, where workers turned hemlock—then dismissed as a "weed" tree—into premium paper pulp. It adopted the name Rayonier in 1937, blending "rayon" (the synthetic fiber its pulp helped produce) with "Rainier."
4.50% Senior Exchangeable Notes due August 2015, guaranteed by Rayonier Inc.
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