(All financial information is in US dollars unless otherwise noted).
Domtar Corporation (the “Company” or “Domtar”) (NYSE: UFS), today announced the termination of its previously announced cash take-over bids (each, an “Offer” and collectively, the “Offers” for (i) all and all of its 4.400% Senior Notes due 2022 (the “2022 Notes”) and (ii) up to a combined aggregate purchase price (including the principal amount and the premium related, 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 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 effect immediately. Any tickets deposited under offers will not be purchased. All instructions in respect of Deposited Notes will be deemed to be automatically revoked and all previously deposited and not withdrawn Notes will be promptly returned to their respective holders.
In lieu of the offers, the Company announced today that it will repay the entire $ 300 million aggregate principal amount of the 2022 Notes in accordance with the terms of the 2022 Notes and will repay the $ 294 million of outstanding debt under its term loan agreement with CoBank, ACB, an agricultural credit bank.
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