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Clearwater Paper pricing $250 million 10-year senior notes Thursday
By Paul A. Harris and Aleesia Forni
Columbus, Ohio, Jan. 17 - Clearwater Paper Corp. plans to sell $250 million senior notes due 2023 (Ba2/BB) on Thursday, a market source said.
Goldman Sachs & Co. and Bank of America Merrill Lynch are the bookrunners for the Rule 144A and Regulation S deal.
The notes will be non-callable for five years.
About $163.9 million of the proceeds will be used to redeem all of the company's outstanding 10 5/8% senior notes due 2016, and the remaining proceeds will be used to purchase shares of the company's common stock under the $100 million stock repurchase program.
Clearwater is a Spokane, Wash.-based paper manufacturer.
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