Verso Paper purchases, retires $12 million of floaters during March for $8.9 million gain

By Jennifer Chiou

New York, May 7 - Verso Paper Corp. repurchased and retired in March $12 million of its second-priority senior secured floating-rate notes due 2014, according to a 10-Q filed with the Securities and Exchange Commission.

As a result, Verso Paper said that it recognized a gain of $8.9 million.

At March 31, the company had $238 million of the floaters outstanding.

Verso Paper is a Memphis-based producer of coated papers, including coated groundwood and coated freesheet and supercalendered products.

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