Domtar $400 million 10-year notes talked at 275 bps over Treasuries, to price Tuesday

By Paul A. Harris

St. Louis, Aug. 1 - Domtar Inc. talked a $400 million offering of 10-year notes (Ba2/BB-) at Treasuries plus 275 basis points on Monday, according to a market source.

The quick-to-market offering is expected to price on Tuesday.

Citigroup and JP Morgan are the underwriters.

Proceeds will be used to redeem the company's 8¾% notes due August 2006 and to repay its revolving credit facility.

The notes are non-callable for life.

Domtar is a Montreal-based paper and packaging firm.

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