Cellu Tissue plans bond sale to help fund merger with CityForest

By Paul A. Harris

St. Louis, March 1 - Cellu Tissue Holdings, Inc. announced in a Thursday press release that it plans to sell bonds to help fund its merger with CityForest Corp., a Ladysmith, Wis.-based manufacturer of tissue paper.

The company also intends to use cash on hand and to draw upon its existing credit facility to help fund the merger.

The debt financing is expected to be completed before March 31.

No sizes, structural details or syndicate names were disclosed in the Thursday press release, and the company did not return a telephone call from Prospect News.

Cellu Tissue is an Alpharetta, Ga., manufacturer and marketer of specialty tissue.

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