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Pixelle Specialty Solutions Announces Significant New Funding

SPRING GROVE, PA (News release) -- Pennsylvania-based Pixelle Specialty Solutions, a leading provider of specialty papers, announced that it has secured significant new financing, positioning the company with ample liquidity for continued future growth.

The recent financing, which includes new capital investment and amendments to the Company's credit facilities, was completed in collaboration with the Company's existing lenders and has substantially bolstered the Company's cash liquidity position. This strategic transaction provides a significant injection of fresh capital to invest in the Company's manufacturing capabilities and to drive improved operational performance at the Company's three paper mills going forward.

Ross Bushnell, President and CEO of Pixelle, commented on the significance of this funding, "This financing is evidence of the confidence that our capital partners have in our business and its long-term outlook. With this new support, we are well-positioned to take advantage of several key initiatives we have underway to improve our cost structure and invest in our manufacturing capabilities."

The participation of 100% of the company's revolving credit and over 97% of first lien term loan lenders underscores the strong backing and support of Pixelle from its senior secured financing partners and further reinforces the company's liquidity position.

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