Resolute Forest Products Inc. (RFP) announced that it priced the offering of $600 million aggregate principal amount of its senior notes due 2023 at 5.875% and 99.062% of par value. The offering of the 2023 notes is expected to close on May 8.
The company stated that the notes will be unsecured and guaranteed by substantially all of Resolute's U.S. Subsidiaries.
The company expects to use the net proceeds to repurchase, repay or otherwise discharge all, or substantially all, of its $501.2 million outstanding aggregate principal amount 10.25% senior secured notes due 2018.
by RTT Staff Writer
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