Catalyst Paper Corp. (CTL.TO) said it is offering to exchange its outstanding 8 5/8% Senior Notes due June 15, 2011 held by Eligible Holders for its new 10% Senior Secured Notes due December 15, 2016, and shares of its common stock, no par value. For each U.S. $1,000 in principal amount of Old Notes tendered and accepted, Catalyst is offering US$700 in principal amount of New Notes, an Early Tender Premium of US$25 in principal amount of New Notes to Holders who tender their Old Notes at or prior to December 9, 2009 and 269 Common Shares.
Assuming 100% participation in the exchange, the maximum aggregate principal amount of New Notes being offered in the exchange is US$256.81 million, inclusive of the Early Tender Premium, and the maximum number of Common Shares being offered in the exchange is 95.28 million.
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