Cellu Tissue bought back some 11½% notes via $29 million IPO proceeds

By Jennifer Chiou

New York, April 28 - Cellu Tissue Holdings, Inc. announced in its fourth quarter report that it completed the repurchase of a portion of its 11½% senior secured notes due 2014 using the proceeds from an initial public offering of common stock that generated $29 million in net proceeds.

The IPO included shares to be sold by Cellu Tissue and by stockholders.

The company announced plans for the repurchase on Oct. 16, 2009.

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