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AbitibiBowater again extends timeframe for borrowing base change
By Sara Rosenberg
New York, March 27 - AbitibiBowater Inc.'s Bowater Inc. subsidiary entered into a letter of agreement providing that the $15 million reduction of the maximum amount of available foreign accounts receivable included in its credit facility borrowing base take place on April 3 instead of on March 24, according to an 8-K filed with the Securities and Exchange Commission on Friday.
In addition, the U.S. credit agreement will be reduced to around $370.4 million and the Canadian credit agreement will be reduced to around $125.9 million on March 31.
AbitibiBowater is a Montreal-based producer of newsprint, commercial printing papers, market pulp and wood products.
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