Perry County, Miss., begins consent solicitation for Leaf River bonds

By Marisa Wong

Madison, Wis., March 21 - Perry County, Miss., began on Thursday a consent solicitation to amend its $73 million Leaf River Forest Products, Inc. pollution control refunding revenue bonds, series 2002, according to a notice.

Leaf River is seeking to amend its lease agreement with Perry County. The company is proposing that the lease be amended without bondholder consent once the bonds are remarketed through a mandatory tender for purchase. In addition, the company wants to replace an existing letter of credit issued by Bank of Nova Scotia, New York Branch, currently securing the bonds, with a letter of credit issued by parent company Georgia-Pacific LLC.

The issuer needs consents from holders of a majority in principal amount of the outstanding bonds in order to enter into a supplemental indenture effecting the proposed changes.

Holders must be of record as of 5 p.m. ET on March 20 to participate.

The consent solicitation expires at 5 p.m. ET on April 10.

Consents are to be delivered to trustee U.S. Bank NA (800 934-6802).

Based in New Augusta, Miss., Leaf River operates a pulp processing and manufacturing facility.

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