Domtar Corporation and Karta Halten B.V., through its subsidiary Pearl Merger Sub Inc., Announce the launch of Private Offering of Senior Secured Notes Due 2028
Summary
RICHMOND, British Columbia & FORT MILL, S.C.--(BUSINESS WIRE)--Domtar Corporation (“Domtar”), a leading provider of a wide variety of fiber-based products including communication, specialty and packaging papers, market pulp and airlaid nonwovens, and Karta Halten B.V., a private limited company organized under the laws of the Netherlands (“Karta Halten”) and affiliate of Paper Excellence B.V., a private limited company organized under the laws of the Netherlands (“Paper Excellence”), through its subsidiary, Pearl Merger Sub Inc., a Delaware corporation (“Merger Sub”), announced today the intention for Merger Sub to issue (“the Offering”) to eligible purchasers $750.0 million aggregate principal amount of senior secured notes due 2028 (the “Notes”), subject to market conditions. If the Offering closes prior to the consummation of the Merger, the initial purchasers will deposit the gross proceeds from the sale of the Notes into an escrow account. Paper Excellence believes in the enduring value of wood-based products in global markets and has built a large network of mills and chipping plants to produce them competitively. Domtar is a leading provider of a wide variety of fiber-based products including communication, specialty and packaging papers, market pulp and airlaid nonwovens. With approximately 6,400 employees serving more than 50 countries around the world, Domtar is driven by a commitment to turn sustainable wood fiber into useful products that people rely on every day.