Business News
Clearwater Paper Corporation Announces Proposed Offering of Senior Notes
Monday 11. October 2010 - Clearwater Paper Corporation (NYSE: CLW) today announced a proposed offering of $350 million aggregate principal amount of senior notes due 2018.
The net proceeds of the offering will be used to finance in part the Companys acquisition of Cellu Tissue Holdings, Inc., to refinance certain existing indebtedness of Cellu Tissue, and to pay fees and expenses incurred as part of the notes offering, the acquisition and related transactions.
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 press release contains information about pending transactions, and there can be no assurance that these transactions will be completed.