Buckeye aims to redeem $25 million of its 8½% senior notes due 2013

By Devika Patel

Knoxville, Tenn., March 19 - Buckeye Technologies Inc. said it will redeem $25 million of its 8½% senior notes due 2013 at 102.83 on April 19 using drawings from its revolving credit facility.

Following this, there will be $140 million of the notes outstanding.

Buckeye said it expects to realize annualized interest savings of approximately $1.7 million from this redemption.

Buckeye is a Memphis-based manufacturer of specialty fibers and nonwoven materials.

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