Domtar Corporation Announces Termination of Cash Tender Offers for 4.400%, 6.750% and 6.250% Senior Notes, Redemption of 2022 Notes, and Repayment of Term Loan
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(All financial information is in U.S. dollars, unless otherwise noted).
FORT MILL, S.C.--(BUSINESS WIRE)-- Domtar Corporation (the “Company” or “Domtar”) (NYSE: UFS), announced today the termination of its previously announced cash tender offers (each, an “Offer”, and collectively, the “Offers”) for (i) any and all of its 4.400% Senior Notes due 2022 (the “2022 Notes”) and (ii) up to a combined aggregate purchase price (including principal amount and related premium, but excluding accrued interest) of $300 million of its 6.750% Senior Notes due 2044 (the “2044 Notes”) and its 6.250% Senior Notes due 2042 (the “2042 Notes” and, together with the 2022 Notes and 2044 Notes, the “Notes,” and each a “series” of Notes).
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The termination of the Offers is unconditional and takes immediate effect. All Notes tendered pursuant to the Offers will not be purchased. All instructions in respect of tendered Notes will be deemed to be revoked automatically and all Notes previously tendered and not withdrawn will be promptly returned to their respective Holders.
In lieu of the Offers, the Company announced today that it will redeem all of the $300 million aggregate principal amount of the 2022 Notes pursuant to the terms of the 2022 Notes and repay the $294 million of outstanding indebtedness under its Term Loan Agreement with CoBank, ACB, a farm credit bank.
Corporate Services and Sustainability
Source: Domtar Corporation
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