Miamisburg, Ohio, USA, 24 February 2010 – NewPage Corporation announced today the issuance of an additional USD 70 million in aggregate principal amount of 11.375% senior secured notes due 2014 in a private placement. These additional notes have substantially the same terms as the existing USD 1.7 billion 11.375% senior secured notes due 2014.
“The transaction was an opportunity to issue debt at a premium to the market and without underwriting fees. The net proceeds from the issuance of the notes will positively affect our overall liquidity position and will be used to repay existing borrowings under the revolver and for general corporate purposes,” stated David J. Prystash, senior vice president and chief financial officer of NewPage.
The notes issued by NewPage were not registered under the Securities Act of 1933, as amended, and may not be offered or resold in the United States absent registration or an applicable exemption from registration requirements. This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any security.