Catalyst Paper redeems $14.5 million PIK toggle senior secured notes

By Tali Rackner

Norfolk, Va., March 28 - Catalyst Paper repurchased $14.5 million of its outstanding PIK toggle senior secured notes on the open market, according to a press release.

As a result of the repurchase, Catalyst will reduce its annual interest costs by about $1.6 million.

As previously disclosed, the company said it may purchase its debt securities on the open market from time to time.

Catalyst Paper makes specialty mechanical printing papers, newsprint and pulp and is based in Richmond, B.C.

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