Print this page
Friday, 18 January 2013 10:00

Clearwater Paper Announces Proposed Offering of Senior Notes

Written by
Rate this item
(0 votes)

clearClearwater Paper Corporation (NYSE:CLW) has announced a proposed offering of $250 million aggregate principal amount of senior notes due 2023.

Clearwater Paper intends to use approximately $163.9 million of the net proceeds to redeem all of its outstanding 10.625% Senior Notes due 2016. The remaining net proceeds are expected to be used to purchase shares of the Company's common stock pursuant to the Company's $100 millionstock repurchase program separately announced today.

As the offering is a private placement, the notes will be offered and sold only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933 (the "Securities Act") and to certain non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act. The notes to be offered have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the notes nor shall there be any sale of the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful. This news release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

This press release contains information about pending transactions, and there can be no assurance that these transactions will be completed.

Source: Clearwater Paper Corporation

Read 2974 times

Latest from Ianadmin

Related items