Domtar announces expiration of tender offer for certain outstanding Notes
(All financial information is in U.S. dollars, unless otherwise noted.)
(NYSE: UFS) (TSX: UFS)
MONTREAL, March 21, 2012 /PRNewswire/ - Domtar Corporation (NYSE: UFS)
(TSX: UFS) today announced that the tender offer for its outstanding
10.75% Notes due 2017, 9.5% Notes due 2016, 7.125% Notes due 2015, and
5.375% Notes due 2013 (collectively, the "Notes") expired at 12:00
midnight, New York City Time, on Tuesday, March 20, 2012 (the
"Expiration Time"). As of the Expiration Time, the aggregate principal
amount of each series of Notes validly tendered and not withdrawn was
as set forth in the table below. Because the aggregate consideration
for all Notes validly tendered and not withdrawn does not exceed the
maximum payment amount of $250 million, the Company will purchase all
Notes validly tendered and not withdrawn.
|Title of Security||CUSIP Number||Aggregate Principal Amount Tendered|
|10.75% Notes due 2017||257559 AG9||$106,933,000|
|9.5% Notes due 2016||257559 AD6||$31,150,000|
|7.125% Notes due 2015||257559 AC8||$46,538,000|
|5.375% Notes due 2013||257559 AB0||$1,260,000|
The complete terms and conditions of the tender offer are described in the Offer to Purchase, dated February 22, 2012, of the Company (the "Offer to Purchase"). The Company has engaged J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. to act as dealer managers in connection with the tender offer. Questions regarding the tender offer may be directed to J.P. Morgan at (212) 834-4811 (collect) or (866) 834-4666 (U.S. toll free) or Deutsche Bank Securities at (212) 250-2955 (collect) or (866) 627-0391 (U.S. toll free). Requests for documentation may be directed to Global Bondholder Services Corporation, the depositary and information agent for the tender offer, at (212) 430-3774 (for banks and brokers) or (866) 470-4200 (U.S. toll free).
This press release is neither an offer to purchase nor a solicitation of an offer to sell the Notes or any other security. The tender offer is being made only by the Offer to Purchase and the related letter of transmittal. The offer is not being made to noteholders in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the offer is required to be made by a licensed broker or dealer, it shall be deemed to be made on behalf of the Company by the dealer managers or one or more registered brokers or dealers licensed under the laws of such jurisdiction.
Domtar Corporation (NYSE: UFS) (TSX: UFS) designs, manufactures, markets and distributes a wide variety of fiber-based products including communication papers, specialty and packaging papers and adult incontinence products. The foundation of its business is a network of world class wood fiber converting assets that produce papergrade, fluff and specialty pulps. The majority of its pulp production is consumed internally to manufacture paper and consumer products. Domtar is the largest integrated marketer of uncoated freesheet paper in North America with recognized brands such as Cougar®, Lynx® Opaque Ultra, Husky® Opaque Offset, First Choice® and Domtar EarthChoice®. Domtar is also a leading marketer and producer of a complete line of incontinence care products marketed primarily under the Attends® brand name. Domtar owns and operates ArivaTM, an extensive network of strategically located paper and printing supplies distribution facilities. In 2011, Domtar had sales of US$5.6 billion from nearly 50 countries. The Company employs approximately 9,100 people. To learn more, visit www.domtar.com.
All statements in this news release that are not based on historical fact are "forward-looking statements." While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. The Company is under no obligation, and expressly disclaims such obligation, to update, alter or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of our control that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth under the captions "Forward-Looking Statements" and "Risk Factors" of the latest Annual Report on Form 10-K filed with the Securities and Exchange Commission as periodically updated by subsequently filed Form 10-Q's.
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