Resolute Forest to redeem $85 million of 10¼% senior notes due 2018

By Tali David

Minneapolis, Sept. 10 - Resolute Forest Products Inc. plans to redeem an additional $85 million of its 10¼% senior secured notes due 2018, according to a press release.

The company also announced it has now repurchased 3.7 million shares of its common stock under the existing $100 million share repurchase program.

The notes will be redeemed at 103 plus accrued interest on Oct. 10. Following the transaction, about $500 million of the notes will remain outstanding.

Resolute Forest is a Montreal-based pulp and paper manufacturer.

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