Wausau Paper amends credit agreement and private shelf agreement

By Angela McDaniels

Tacoma, Wash., May 30 - Wausau Paper Corp. amended its credit agreement and its note purchase and private shelf agreement on Thursday, extending until June 27 the timeframe within which it must seek authorization from its board of directors to secure the debt held by the lenders with liens on substantially all the assets of the company and its subsidiaries.

The company also amended the provisions regarding events of default to include some provisions relating to events arising under the Employee Retirement Income Security Act of 1974, according to an 8-K filing with the Securities and Exchange Commission.

The lenders under the credit agreement are Bank of America, NA, BMO Harris Bank NA, Northwest Farm Credit Services, PCA and 1st Farm Credit Services.

The private shelf agreement is with Prudential Investment Management, Inc., among others.

Wausau Paper is a Mosinee, Wis.-based company that manufactures, converts and sells paper and paper products.

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