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Verso : Paper Holdings and Verso Paper Extend Expiration Date for Exchange Offers for Their Second Priority Adjustable Senior Secured Notes and...

08/26/2015 | 03:14am US/Eastern

Verso Paper Holdings and Verso Paper Extend Expiration Date for Exchange Offers for Their Second Priority Adjustable Senior Secured Notes and Adjustable Senior Subordinated Notes

Verso Paper Holdings and Verso Paper extended the expiration date for their previously announced exchange offers from 5 p.m., New York City time, on Thursday, August 20, to 5 p.m., New York City time, on Tuesday, August 25, unless further extended.

According to a company release, all other terms, provisions and conditions of the exchange offers remain in full force and effect.

On July 22, the Issuers commenced their offers to exchange up to $180,767,777 aggregate principal amount of their Second Priority Adjustable Senior Secured Notes and related guarantees registered under the Securities Act of 1933 for any and all of the outstanding like principal amount of their Second Priority Adjustable Senior Secured Notes and related guarantees, and $65,026,237 aggregate principal amount of their Adjustable Senior Subordinated Notes and related guarantees registered under the Securities Act for any and all of the outstanding like principal amount of their Adjustable Senior Subordinated Notes and related guarantees.

As of 5 p.m., New York City time, on August 20, Wilmington Trust, National Association, the exchange agent for the exchange offers, advised that $180,691,241 aggregate principal amount of the outstanding Original Second Priority Notes had been tendered for exchange, representing approximately 99.96 percent of such outstanding notes, and that $64,924,687 aggregate principal amount of the outstanding Original Subordinated Notes had been tendered for exchange, representing approximately 99.84 percent of such outstanding notes.

On July 21, the Securities and Exchange Commission declared the Form S-4 registration statement filed by the Issuers regarding the exchange offers effective under the Securities Act. The expiration date for the exchange offers was extended to provide time for the remaining outstanding Original Second Priority Notes and Original Subordinated Notes to be exchanged.

More information:

versoco.com

((Comments on this story may be sent to newsdesk@closeupmedia.com))

(c) 2015 ProQuest Information and Learning Company; All Rights Reserved., source Newspapers

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