Jun 30, 2011. /Lesprom Network/. AbitibiBowater announced that, with the proceeds from the sale of its 75% indirect interest in ACH Limited Partnership, the Company recently redeemed approximately $270 million of its debt. With these disbursements, AbitibiBowater's total debt has been reduced to a face amount of approximately $670 million. "These recent actions are an important milestone in AbitibiBowater's focus on reducing its debt and associated interest burden," stated Richard Garneau, President and CEO. "Debt reduction is a fundamental part of our strategy to reduce fixed costs and improve the Company's financial position and competitiveness." The following three debt repayments were made during June 2011: -$94 million principal at a redemption price of 105%, together with accrued interest, of the $850 million, 10.25% senior secured notes due 2018; -$85 million principal at a redemption price of 103%, together with accrued interest, of the $850 million, 10.25% senior secured notes due 2018; and -$90 million principal at par, together with accrued interest, of the Augusta Newsprint Company promissory note - repaid in full. AbitibiBowater is a global leader in the forest products industry, producing a diverse range of products, including newsprint, commercial printing papers, market pulp and wood products.