KapStone Paper and Packaging repays $10 million of term borrowings

By Sara Rosenberg

New York, May 5 - KapStone Paper and Packaging Corp. prepaid $10 million of its term loan debt on March 31, according to a news release.

Total debt outstanding as of March 31 was $137 million and net debt was reduced by $16.7 million from year-end.

In addition, the company expects to use the majority of its anticipated $13.2 million in federal income tax refunds and $7.9 million from alternative fuel mixture tax credits to make further repayments.

KapStone is a Northbrook, Ill.-based producer of unbleached kraft paper products and linerboard.

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