Catalyst Paper Completes $330M Revolving Asset-based Loan Facility

On August 13, 2008, Catalyst Paper Corporation, a leading producer of mechanical printing papers, and certain of its Canadian and American subsidiaries, completed the refinancing and replacement of its existing senior revolving operating facility, maturing in July 2009 with a new $330 million revolving asset-based loan facility maturing in August 2013. The syndication of the new ABL facility for Catalyst was co-led by CIT Business Credit Canada Inc. and JPMorgan Chase Bank, N.A. CIT Business Credit Canada Inc. will also serve as administrative agent and collateral agent for the new syndicate of lenders.

Valerie Seager, vice president and general counsel at Catalyst, was assisted in Canada by Lawson Lundell LLP with a team that included Michael Low, Lindsay Scott-Moncrieff, Paul Bradley and James Sutcliffe, and in the US by Fried, Frank, Harris, Shriver & Jacobson LLP, with a team that included William Reindel, Thao Tran, Richard Froom and Martina Baillie.

CIT Business Credit Canada Inc. was represented by Stikeman Elliott LLP with a team that included Sharon Polan, Jill Lankin, Craig Mitchell and Helve Hess, and JP Morgan Chase Bank, N.A. was represented by Latham & Watkins LLP, with a team including James Doran, David Shapiro, Frederick Fisher and Daniel Long.