M-Real calls €250 million floaters for Jan. 25 redemption at par

By Jennifer Chiou

New York, Dec. 23 - M-Real Corp. said it will redeem €250 million of its senior floating-rate notes due December 2010 on Jan. 25.

The notes will be redeemed at par plus accrued interest.

The company said that €90.05 million of notes will remain outstanding after the redemption.

Deutsche Trustee Co. Ltd., as trustee, will select the notes for the redemption on a pro rata basis by applying a pool factor. The pro rata redemption per €50,000 denomination is €36,759.30.

M-Real is an Espoo, Finland-based supplier of paper, paperboard and related services for consumer packaging as well as communications and advertising end users.

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