AbitibiBowater trims pricing, extends maturity of asset-based revolver

By Susanna Moon

Chicago, Oct. 31 - AbitibiBowater Inc. said it amended its asset-based revolving credit facility, pushing out the maturity to October 2016 from December 2014.

Under the new terms, AbitibiBowater also reduced borrowing costs and eased many covenants, including the restriction on dividend payments and share repurchases, according to the company's earnings release for the third quarter.

The facility remains undrawn.

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

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