Clearwater Paper Corp Announces Pricing of 275 Million Of Senior Notes

Thursday, 17 Jan 2013 07:04pm EST 

Clearwater Paper Corp announced that it upsized and priced 275 million aggregate principal amount of senior notes due 2023 (the Notes). The Notes will have an interest rate of 4.5% per annum and are being issued at a price equal to 100% of their face value. The company estimates that the net proceeds from the offering will be approximately $270.7 million after deducting discounts and estimated offering expenses. 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, and to use $100 million of the net proceeds to purchase shares of the company's common stock pursuant to the company's previously announced $100 million stock repurchase program. The company intends to use the remaining net proceeds for general corporate purposes. 

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21 Nov 2014