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Buckeye solicits consents for 8½% notes
New York, Jan. 27 - Buckeye Technologies Inc. said it has begun soliciting consents to amend its $200 million principal amount of 8½% senior notes due Oct. 1, 2013.
The Memphis-based maker of specialty fibers and nonwoven materials wants to amend the note indenture to allow it to redeem $100 million of its 9¼% senior subordinated notes due Sept. 15, 2008.
As part of the redemption, Buckeye intends to amend its credit facilities to add on an extra $85 million term loan, among other changes.
Holders who consent will receive a fee of $5.00 per $1,000 principal amount.
The solicitation ends at 5 p.m. ET on Feb. 9.
Buckeye need consents from holders of a majority of the principal amount of the notes.
Citigroup Global Markets Inc. is solicitation agent (contact Liability Management Group at 800 558-3745 or call collect 212 723-6106). Global Bondholders Services Corp. is information agent (866 924-2200 or call collect 212 430-3774).
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