Each issue of PaperMoney is approximately 500 fact filled pages.
Logout
Click here for Pulp & Paper Radio International
Items just for you
New publication added! Advertising Arguments 2015 book
Free Downloads
Search
My Profile
Login
Management Side
Technical Side
Catalyst Paper Raises Funds to Refinance Joint Venture
Print

Richmond,  British Columbia, Canada, 21 July 2009 – Catalyst Paper (TSX:CTL) announced today that its hydro joint venture, Powell River Energy Inc., has successfully raised CAD 95 million of first mortgage bonds maturing in July 2016 to refinance CAD 75 million of nonrecourse debt due on 24 July 2009. The new bonds are priced at an interest rate of 6.45%, payable semiannually. The transaction is scheduled to close on 24 July 2009.

Catalyst has a 50% interest in Powell River Energy Inc. with Great Lakes Hydro Income Fund holding an equivalent stake. After fees and other expenses, the additional CAD 18 million in funds raised in this refinancing is to be distributed equally to the joint venture partners.

Catalyst Paper manufactures diverse specialty printing papers, newsprint, and pulp. Its customers include retailers, publishers, and commercial printers in North America, Latin America, the Pacific Rim, and Europe. With six mills strategically located in British Columbia, Canada, and Arizona, USA, Catalyst has a combined annual production capacity of 2.5 million metric tons. The company is headquartered in Richmond, British Columbia, Canada, and its common shares trade on the Toronto Stock Exchange under the symbol CTL.



Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: