DOMTAR CORPORATION Domtar Corporation announced the expiration of its previously announced offers to purchase (the Offers) any and all of its outstanding 6.25% Senior Notes due 2042 (CUSIP No. 257559AJ3; ISIN No. US257559AJ34) (the 2042 Notes) and 6.75% Senior Notes due 2044 (CUSIP No.
257559AK0; ISIN No. US257559AK07) (the 2044 Notes and, together with the 2042 Notes, the Unsecured Notes). The Offers were made solely to fulfill the Company's obligations under the senior indenture governing the Unsecured Notes following the consummation on November 30, 2021 of the Company's previously announced merger (the Merger) with a subsidiary of Karta Halten B.V., which resulted in a Change of Control giving the holders of the Unsecured Notes the right to require the Company to purchase all or a portion of such holders' Unsecured Notes at a price of 101% of the principal amount thereof, plus any accrued and unpaid interest up to, but not including, the date of purchase.
The Offers were commenced on December 2, 2021 and expired at 12:00 midnight, New York City time, at the end of the day on January 3, 2022 (the Expiration Date). As of the Expiration Date, $134,300,000 in aggregate principal amount of the 2042 Notes, representing 53.72% of the then outstanding 2042 Notes, and $100,282,000 in aggregate principal amount of the 2044 Notes, representing 40.11% of the then outstanding 2044 Notes, had been delivered for repurchase pursuant to the Offers. The Company intends to pay for all Unsecured Notes delivered and not validly withdrawn pursuant to the Offers on January 7, 2022.
The Company also announced the special mandatory redemption (the Redemption) of $132,709,000 aggregate principal amount of its outstanding 6.750% Senior Secured Notes due 2028 (CUSIP Nos. 70478J AA2 (144A) and U7051J AA6 (REG S)) (the “Secured Notes” and, together with the Unsecured Notes, the “Notes”), representing 50.0% of the combined aggregate principal amount of each series of the Unsecured Notes that have not been tendered and accepted for purchase pursuant to and in accordance with the Offers prior to the Expiration Date. The Redemption is being made in accordance with the indenture governing the Secured Notes.
The date of redemption will be January 7, 2022, and the redemption price for the Secured Notes subject to redemption will be equal to 100% of the principal amount of such Secured Notes, plus accrued and unpaid interest to, but not including, the date of redemption. The selection of Secured Notes for redemption will be made by the trustee for the Secured Notes in accordance with applicable procedures of the Depository Trust Company. Following the consummation of the Redemption, $642,291,000 aggregate principal amount of the Secured Notes will remain outstanding.
