Paper Excellence secures $1.95 billion in financing to buy Domtar
Acquisition to be completed in the second half of this year
According to Valor Econômico, Canadian Paper Excellence announced this Friday that it has guaranteed US$ 1.95 billion in financing to ensure the purchase of Domtar, announced in May, for US$ 3 billion.
According to the company, the amount will be executed in three installments, one of US$ 400 million with a maturity of five years and another two of US$ 775 million with a maturity of seven years. The deadline starts to apply at the conclusion of the acquisition.
Paper Excellence says that the deal has yet to be concluded in the second half of this year, with Domtar shareholders holding a meeting to deliberate on the matter on July 29th.
ABOUT DOMTAR
Domtar is a leading provider of a wide variety of fiber-based products including communication, specialty and packaging papers, market pulp and airlaid nonwovens. With approximately 6,400 employees serving more than 50 countries around the world, Domtar is driven by a commitment to turn sustainable wood fiber into useful products that people rely on every day. To learn more, visit: www.domtar.com.
ABOUT PAPER EXCELLENCE
Paper Excellence, headquartered in British Columbia, is a manufacturer of pulp and specialty, printing, writing, and packaging papers. The company operates seven mills and a large-scale cargo distribution centre in Canada producing and shipping over 2.8 million tonnes annually with a workforce of more than 2,800. To learn more, visit: www.paperexcellence.com.
