Catalyst Paper says creditor agreements delay end of tender offer

By Lisa Kerner

Charlotte, N.C., Feb. 8 - Catalyst Paper Corp. extended its private exchange offer and consent solicitation for its outstanding 8 5/8% senior notes due June 15, 2011 due to details involving the complex inter-creditor agreements, a company spokesperson said on Monday.

Catalyst extended its exchange offer to 5 p.m. ET on Feb. 12 from Feb. 5.

The original expiration date of Dec. 24 has been extended multiple times, with Catalyst changing the payout on offer and increasing the interest rate of the new notes to 11% from 10%.

Catalyst is a Richmond, B.C.-based producer of specialty printing papers and newsprint.

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