Jul 27, 2007. /Lesprom Network/. Fraser Papers Inc. announced on July 26, 2007 that it has secured an increase in the company's revolving credit facility with CIT Business Credit Canada Inc. Maximum borrowings available under the amended facility will be increased by $50 million to a total of $140 million. The amended facility will be for 120 days on substantially the same terms as the existing facility. The increased amount provides the corporation with sufficient availability to redeem the $68 million of 8.75% senior notes outstanding. On June 4, 2007, the corporation announced that it had commenced an offer to purchase all of the outstanding senior notes. This offer expires on July 26, 2007. The corporation is considering a number of financing alternatives to repay increased borrowings under the facility. Fraser Papers is an integrated specialty paper company which produces a broad range of specialty packaging and printing papers. The company has operations in New Brunswick, Maine, New Hampshire and Quebec. Fraser Papers is listed on the Toronto Stock Exchange.