Buckeye announces expiration of consent solicitation
Feb 18, 2005. Buckeye Technologies Inc. (NYSE: BKI) announced that its solicitation of consents (the "Consent Solicitation") from holders of its outstanding $200 million aggregate principal amount of 8 1/2% Senior Notes due 2013 (the "2013 Notes") to amend the indenture for the 2013 Notes expired on February 16, 2005 without receipt of the requisite consents and will not be extended. Consequently, the indenture for the 2013 Notes has not been amended and no consent fee will be paid.
Feb 18, 2005. /Lesprom Network/. Buckeye Technologies Inc. (NYSE: BKI) announced that its solicitation of consents (the "Consent Solicitation") from holders of its outstanding $200 million aggregate principal amount of 8 1/2% Senior Notes due 2013 (the "2013 Notes") to amend the indenture for the 2013 Notes expired on February 16, 2005 without receipt of the requisite consents and will not be extended. Consequently, the indenture for the 2013 Notes has not been amended and no consent fee will be paid.
Buckeye also announced today that it intends to call for redemption $20 million in aggregate principal amount of its outstanding 9 1/4% Senior Subordinated Notes due 2008 (the "2008 Notes"), or 20% of the outstanding 2008 Notes on or about March 23, 2005 in accordance with their terms. A formal notice of redemption will be sent separately to the affected holders of the 2008 Notes in accordance with the terms of the indenture for the 2008 Notes.