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Current Report
Table of Contents
 
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 — October 25, 2002
 
COMMISSION FILE NUMBER 1-6780
 
 
RAYONIER INC.
 
Incorporated in the State of North Carolina
 
I.R.S. Employer Identification Number l3-2607329
 
50 North Laura Street, Jacksonville, Florida 32202
(Principal Executive Office)
 
Telephone Number: (904) 357-9100
 
 

Table of Contents
 
RAYONIER INC.
 
TABLE OF CONTENTS
 
        
PAGE
Item 5.    
     
1
Item 7.
     
1
      
2
      
3
 

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Table of Contents
 
ITEM 5.    OTHER EVENTS
 
Incorporated by reference is a press release issued by Rayonier Inc. on October 25, 2002, attached as Exhibit 99.
 
ITEM 7.    FINANCIAL STATEMENTS AND EXHIBITS
 
See Exhibit Index on Page 3.

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Table of Contents
 
SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of l934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
 
RAYONIER INC. (Registrant)
BY:
  
/s/ Hans E. Vanden Noort
   
Vice President and
Corporate Controller
October 25, 2002
 

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Table of Contents
 
EXHIBIT INDEX
 
EXHIBIT NO.
   
DESCRIPTION
   
LOCATION
99
   
Press release entitled, Buyer of Rayonier’s New Zealand East Coast Operations Prepays Note, issued October 25, 2002.
   
Filed herewith
 
 

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Press Release
 
Exhibit No. 99
 
Buyer of Rayonier’s New Zealand East Coast Operations Prepays Note
 
JACKSONVILLE, FL, OCTOBER 25, 2002 – Rayonier (NYSE: RYN) today announced that the purchaser of its New Zealand East Coast Timberland Operations has completed the transaction with the early payment of a $46.5 million note.
 
In the second quarter, Rayonier sold its 83,000 acre East Coast operations to Huaguang Forests Co. Limited of China for $63.5 million. The agreement called for an initial down payment with the balance to be paid in installments by December 30, 2002.
 
Rayonier is the world’s premier supplier of high performance specialty cellulose fibers and has 2.2 million acres of timberland in the U.S. and New Zealand. Approximately 45 percent of the company’s sales are outside the U.S. to customers in about 60 countries.