Fraser Papers gets new $83 million revolver

By Sara Rosenberg

New York, Sept. 8 - Fraser Papers Inc. negotiated a new $83 million revolving credit facility due June 30, 2005 with the ability to extend the maturity to Dec. 31, 2005. The revolver is coming from Brascan Corp.

Borrowings under the revolver will carry an interest rate of Libor plus 300 basis points, according to a company news release.

Proceeds will be used to repay the existing term loan from Norbord Inc.

Fraser Papers is a Toronto, Ont.-based integrated specialty paper company.

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