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Global, Industrials | Mergers & Acquisitions

Catalyst Paper Raises Debt for US Acquisition

  • TM Capital served as financial advisor to Catalyst Paper Corporation regarding high yield debt it issued in conjunction with the Company’s US$62.4 million acquisition of NewPage Corporation’s Biron, Wisconsin paper mill and Rumford, Maine pulp and paper mill
  • Catalyst retained TM Capital to act as independent financial advisor to the Company and its Board of Directors regarding the reasonableness of the terms of the proposed debt offering
  • As part of the acquisition, Catalyst issued US$25 million of PIK Toggle Senior Secured Notes to existing holders of previously issued identical notes at a 20% discount to face value. Several holders, including certain insiders of the Company, agreed to backstop the offering and subscribe for and purchase any PIK Toggle Senior Secured Notes not otherwise purchased
  • Catalyst Paper is a publicly traded British Columbia, Canada-based manufacturer of diverse printing papers such as coated freesheet, coated and uncoated groundwood, newsprint, directory, as well as market pulp

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has issued PIK Toggle Notes in conjunction with the acquisition of

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Catalyst Paper Raises Debt for US Acquisition

TM Capitals served as financial advisor to Catalyst Paper regarding high yield debt it issued in conjunction with the acquisition of NewPage Corporation’s Biron, WI paper mill and Rumford, ME pulp and paper mill

Details

For more information, contact our industrials team at:

industrials@tmcapital.com