Verso Paper subsidiary tenders for any, all $315 million 11½% notes

By Jennifer Chiou

New York, March 7 - Verso Paper Inc. subsidiary Verso Paper Holdings LLC announced a cash tender offer for any and all of the $315 million of 11½% senior secured notes due 2014 issued by the companies.

The Memphis, Tenn.-based producer of coated papers is offering $1,055 per $1,000 principal amount, including a $30.00 early tender payment for those who submit their notes prior to 5 p.m. ET on March 20.

The company will also pay accrued interest.

The offer will end at 11:59 p.m. ET on April 3.

According to a news release, the completion of the offer is conditioned upon, among other things, a new debt issue to fund the offer.

Credit Suisse Securities (USA) LLC (800 820-1653 or call collect 212 325-5912), Citigroup Global Markets Inc. (800 558-3745 or call collect 212 723-6106), Barclays Capital Inc. (800 438-3242 or call collect 212 528-7581) and Goldman, Sachs & Co. (800 828-3182 or call collect 212 902-5183) are the dealer managers.

Global Bondholder Services Corp. is the information agent (212 430-3774 for brokers and banks or 866 807-2200).

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