Buckeye plans redemption of $35 million in 8½% senior notes due 2013

By Devika Patel

Knoxville, Tenn., Dec. 2 - Buckeye Technologies Inc. said it will redeem $35 million of its 8½% senior notes due 2013 at 102.83 on Jan. 4 using drawings from its revolving credit facility and cash on hand.

Following this, there will be $165 million of the notes outstanding.

Buckeye said it expects to realize annualized interest savings of approximately $2.4 million from this redemption.

Buckeye is a Memphis-based manufacturer of specialty fibers and nonwoven materials.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.