Domtar amends loan, allowing for repayment of 7.875% debentures

By Sara Rosenberg

New York, Aug. 13 - Domtar Corp. amended its credit facility on Wednesday, allowing for the repayment of its 7.875% debentures due 2011, according to an 8-K filed with the Securities and Exchange Commission.

However, the repayment is only permissible if the company's consolidated senior secured leverage ratio does not exceed 1.5 to 1 and at least 50% of the revolver commitments are unused, after giving effect to the payment.

JPMorgan is the administrative agent on the deal.

Domtar is a Montreal-based designer, manufacturer, marketer and distributor of uncoated freesheet paper, papergrade, fluff and specialty pulp.

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