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Attention Business Editors
Catalyst Paper announces expiration of the private exchange offer and consent solicitation related to its 8 5/8% senior notes due 2011 (CUSIP
No. 65653RAD5)
RICHMOND, BC, March 8 /CNW/ - Catalyst Paper Corporation (TSX:CTL) today
announced the expiration of the private exchange offer and consent
solicitation (as amended and supplemented, the "Exchange Offer") of Catalyst's
11% Senior Secured Notes due December 15, 2016 (the "New Notes") for its
outstanding 8 5/8% Senior Notes due June 15, 2011 (the "Old Notes"). The
Exchange Offer expired in accordance with its terms at midnight on March 5,
2010.
Catalyst has been advised by the exchange agent for the Exchange Offer
that, as of the expiration of the Exchange Offer, the aggregate principal
amount of Old Notes that had been validly tendered (and not validly withdrawn)
and for which related consents had been validly delivered (and not validly
revoked) was U.S.$318,676,000, or 89.96% of the outstanding Old Notes.
The closing of the Exchange Offer is expected to take place on March 10,
2010, at which time U.S.$280,434,000 in aggregate principal amount of New
Notes will be issued.
THIS RELEASE DOES NOT CONSTITUTE AN OFFER, OR THE SOLICITATION OF AN
OFFER, TO BUY OR SELL ANY SECURITY. THIS RELEASE ALSO IS NOT A SOLICITATION OF
CONSENTS TO THE PROPOSED AMENDMENTS TO THE INDENTURE.
-30-
/For further information: Investors: Brian Baarda, Vice-President,
Finance & CFO, (604) 247-4710; Peter Staiger, Vice-President, Treasurer, (604)
247-4372; Media: Lyn Brown, Vice-President, Corporate Relations, (604)
247-4713/
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