Oct 29, 2008. /Lesprom.com/. PaperlinX announced that it has successfully completed the retail component of the accelerated non-renounceable entitlement offer announced on 1 October 2008. The Retail Entitlement Offer raised approximately $35 million from existing Retail Shareholders in addition to the $150 million raised through the institutional component of the offer. Settlement of the Retail Entitlement Offer will occur on October, 31 with New Shares issued on November, 3 and normal trading expected to commence on the ASX on Wednesday, 5 November. Net proceeds from the Entitlement Offer will be used to repa debt, including the committed $150 million reduction in PaperlinX’s multi-currency facility originally due by May 2009, which has already been repaid. Mr Tom Park, Managing Director of PaperlinX, said, “We appreciate the support from our shareholders during this volatile period in international markets. PaperlinX has already secured funding in relation to the $150 million May 2009 debt repayment and these additional funds will further strengthen the Group’s financial platform and reduce debt. This also provides flexibility to ensure the optimal outcome is achieved from the Australian Paper review.” “We remain focussed on completion and commissioning of the Maryvale Mill pulp upgrade, delivery of profit protection plans, sale of European warehouses, and success in our core business activities.” “Recent external factors have turned favourable for PaperlinX, including the weakness of the Australian dollar which benefits Australian Paper and the translation of overseas earnings, as well as recent announcements of major consolidation in the European paper manufacturing sector with announced capacity reductions in coated woodfree paper manufacturing supporting future pricing in that market in addition to current price rises.” Deutsche Bank AG, Sydney Branch and Macquarie Capital Advisers Limited acted as joint bookrunners and Joint Lead Managers to the PaperlinX Entitlement Offer.