Metsä Board Corporation, part of Metsä Group, has signed a bank financing facility consisting of a Euro 150 million, five-year term loan and a Euro 200 million, five-year multicurrency revolving credit facility ("RCF") with two one-year extension options and a Euro 50 million accordion option.
Under the terms of the Amendment, the Company will also retain up to $50 million in net proceeds from the previously-announced sale of its Matane pulp mill, which remains on track to close in the fourth quarter, with the remainder of the net proceeds to be used to repay a portion of the Company's secured debt.
The Competition & Markets Authority said Monday it will not refer the acquisition of DS Smith PLC's flexible plastic packaging division by Liqui-Box Inc to a Phase Two investigation, accepting the undertakings offered by Liqui-Box.
To-date, Fortress' wholly-owned subsidiaries, Fortress Specialty Cellulose Inc. ("FSC") and Fortress Bioenergy Ltd. (together, the "Borrowers"), have drawn down an aggregate of $5,000,000 under the previously announced senior secured credit facility, which has provided the Company with supplemental liquidity.
Quad/Graphics Inc will pay $9.9 million to settle U.S. Securities and Exchange Commission charges it conducted bribery schemes in Peru and China and violated U.S. sanctions by dealing with a Cuban state-owned telecommunications company.
The new system will process poplar as raw material, and the fiber produced will be used on the company's own paper machines for P&W (printing and writing paper) and board grades.
