AbitibiBowater to repay loan with notes, private placement proceeds

By Sara Rosenberg

New York, Feb. 9 - AbitibiBowater Inc. plans to repay amounts under its credit facility using proceeds from a notes offering and a private placement, according to a news release.

The company is offering new 15.5% first-lien notes in a maximum amount of $211.2 million and has entered into a note purchase agreement with a private institutional investor who has agreed to purchase $80 million of first-lien notes.

AbitibiBowater is a Montreal-based producer of newsprint, commercial printing papers, market pulp and wood products.

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