Buckeye completes consent solicitation for 9 ¼% notes

New York, Oct. 7 - Buckeye Technologies Inc. (B3/B+) said that it had completed its previously announced consent solicitation relating to its 9¼% senior subordinated notes due 2008, which expired as scheduled at 5 p.m. ET on Oct. 6 without extension.

As previously announced, Buckeye, a Memphis, Tenn. manufacturer of specialty cellulose and absorbent products, said on Sept. 23 that it had begun soliciting consents from the holders of its $100 million of 9¼% senior subordinated notes due 2008 to allow the company to amend certain portions of the notes' indenture to match the indenture governing its recently issued 8% senior subordinated notes due 2010 and current market practice.

Buckeye set 5 p.m. ET on Oct. 6 as the expiration of the solicitation, subject to possible extension, and said that holders consenting to the desired changes would receive $5 in cash per $1,000 principal amount of notes.

Citigroup Global Markets Inc. (contact Liability Management at 800 558-3745 or collect at 212 723-6106) was the solicitation agent and Global Bondholders Services Corp. (866 470-4200 or 212 430-3774) was the information agent.

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