Blue Ridge holders tender nearly all 9½% notes; remainder will be redeemed

By Angela McDaniels

Seattle, Sept. 27 - Blue Ridge Paper Products Inc. said it received tenders for $124.3 million, or 99.5%, of its $125 million outstanding 9½% senior secured notes due 2008 during a tender offer that expired at midnight ET on Tuesday.

Holders who tendered will receive par plus accrued interest.

The change-of-control tender offer began on July 31 and was required under the note indenture following the merger of parent company Blue Ridge Holding Corp. with and into a subsidiary of Evergreen Packaging Inc., with Blue Ridge Holding as the surviving company.

The company announced on Sept. 17 that it will redeem any notes not tendered under the offer.

Blue Ridge is based in Canton, N.C., and makes specialty paperboard packaging products and specialty and commodity grades of paperboard and paper products.

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