http://www.catalystpaper.com/media/news/community/catalyst-board-directors-recommends-support-recapitalization-transaction
Catalyst Paper Corporation announced today that the company has entered into an agreement (the Agreement) for a recapitalization transaction that will result in a significantly reduced debt burden. As reported on the company’s website; “Catalyst Paper's management team and Board of Directors believe that, in view of the challenges and risks to the company's ongoing viability created by the current paper, newsprint and pulp markets and the company's existing capital structure, the recapitalization is the best alternative available to the company and its note holders, shareholders and other stakeholders. The new capital structure will provide a stronger financial base for the execution of the company's operating strategy and enhance the long-term value of the company. The recapitalization is expected to close by March 31, 2012.”
