Neenah Paper to draw on existing facility to redeem senior notes

By Sara Rosenberg

New York, Feb. 7 - Neenah Paper Inc. plans on using borrowings under its existing credit facility, along with available cash, to fund the redemption of $65 million of its 7 3/8% senior notes due in 2014, according to a news release.

Following the redemption, there will be $158 million of the notes left outstanding.

Neenah Paper is an Alpharetta, Ga.-based manufacturer of premium, performance-based papers and specialty products.

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