New Issue-Verso Paper sells $325 mln in notes
May 28 (Reuters) - Paper producer Verso Paper Holdings LLC and Verso Paper Inc, units of Verso Paper Corp (VRS.N: Quote, Profile, Research) on Wednesday jointly sold $325 million of 5-year senior secured notes in the 144a private placement market, said IFR, a Thomson Reuters service.
Credit Suisse and Citigroup were the joint bookrunning managers for the sale. BORROWER: VERSO PAPER HOLDINGS LLC / VERSO PAPER INC AMT $325 MLN* COUPON 11.50 PCT MATURITY 7/1/2014 TYPE SR SEC NTS ISS PRICE 91.968 FIRST PAY N/A MOODY'S Ba2 YIELD 13.75 PCT SETTLEMENT 6/11/2009 S&P B-PLUS SPREAD 1,129 BPS PAY FREQ SEMI-ANNUAL FITCH N/A MORE THAN TREAS NON-CALLABLE 2.5 YEARS** *$298.895 MLN PROCEEDS TO ISSUER **CALL SCHEDULE: 105, 103, 100 ANNUAL SPECIAL CALL: UP TO 10 PCT OF THE NOTES AT 103 MAKE-WHOLE CALL 50 BPS EQUITY CLAW: 35 PCT AT 111.5 UNTIL 1/1/2012 (Editing by Theodore d'Afflisio)
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