Abitibi-Consolidated has announced a private offering of US $200 million floating rate notes due 2011 and US $200 m…
Abitibi-Consolidated has announced a private offering of US $200 million floating rate notes due 2011 and US $200 million 7,75% notes due 2011. Issued by Abitibi-Consolidated Company of Canada, the notes will be unconditionally guaranteed by Abitibi-Consolidated Inc. June 15, 2004 marks the closing of the transaction, which will be subject to customary conditions.
The net proceeds from the offering will be used to reduce outstanding debt under the company’s revolving credit facility and repay the US $18 million floating-rate term loan maturing on June30, 2004 of Alabama River Newsprint Company. The Alabama River Newsprint Company recently became a wholly-owned subsidiary of Abitibi-Consolidated.
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