May 20, 2010 (FinancialWire) — Catalyst Paper Corp. (TSX: CTL) said it has closed a private placement of US$110 million of class B 11% senior secured notes due December 15, 2016 at an offering price of 86.000% of the principal amount.

Catalyst said it will use the net proceeds of the offering for general corporate purposes.

Canada-based Catalyst Paper manufactures specialty mechanical printing papers, newsprint and pulp. Its customers include retailers, publishers and commercial printers in North America, Latin America, the Pacific Rim and Europe.

The firm has six facilities located in British Columbia and Arizona, with a combined annual production capacity of 2.5 million tonnes.

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