Buckeye Technologies calls $15 million 8% notes

By Jennifer Chiou

New York, May 21 - Buckeye Technologies Inc. announced the redemption of $15 million of its 8% senior subordinated notes due 2010.

The redemption date is June 20.

Upon completion of this redemption, $115 million of the notes will remain outstanding.

The Memphis-based manufacturer of specialty fibers and nonwoven materials said it will finance the redemption using its $200 million senior secured revolving credit facility, which was put in place July 25, 2007.

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