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Repap New Brunswick to Offer High Yield to Replace Banks
NEW BRUNSWICK, Canada, May 20 /CNW-PRN/ - Repap New Brunswick Inc. announced today that it intends to proceed with an offering of US$100 million of five-year senior secured notes in the U.S. market, subject to market conditions. The proceeds of the offering will be used to repay all of the Company's bank debt, for working capital and for other general purposes.
Repap New Brunswick is an integrated lightweight coated groundwood paper facility with an annual capacity of 492,000 tons of coated paper, 235,000 metric tons of northern bleached softwood kraft pulp, 125,000 metric tons of groundwood pulp and 58 mmfbm of lumber. It is located in Miramichi, New Brunswick, Canada.
The securities referred to in this release will not be and have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
Source Repap New Brunswick Inc.
CO: Repap New Brunswick Inc.
ST: New Brunswick
IN: PAP
SU: OFR
05/20/99 16:28 EDT prnewswire.com
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