NewPage to redeem PIK notes, some floaters due 2012, 10%, 12% notes

By Jennifer Chiou

New York, April 18 - NewPage Holding Corp. said it intends to redeem its pay-in-kind notes as well as some of its floating-rate senior secured notes due 2012, 10% senior secured notes due 2012 and 12% senior subordinated notes due 2013, according to an S-1 filing with the Securities and Exchange Commission.

The company said it will use the proceeds from a $300 million initial public offering as well as proceeds from the sales of a hydroelectric generating facility and carbonless paper business to fund the redemptions.

Goldman, Sachs & Co. Is the bookrunning lead manager and UBS Investment Bank is the joint lead manager for the IPO.

NewPage is a Dayton, Ohio-based producer of coated papers.

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