Verso Announces Full Repayment of Term Loan
MIAMISBURG, Ohio, Sept. 14, 2018 /PRNewswire/ -- Verso Corporation (NYSE: VRS) is pleased to announce that as of September 10, 2018, it has paid in full its senior secured term loan facility. The original value of the term loan at its inception on July 15, 2016, was $220 million. The final payment of approximately $50 million plus accrued interest was paid from excess cash and available capacity from Verso's asset-based revolving credit facility.
About Verso
Verso Corporation is the turn-to company for those looking to successfully navigate the complexities of paper sourcing and performance. The leading North American producer of printing and specialty papers and pulp, Verso provides insightful solutions that help drive improved customer efficiency, productivity, brand awareness and business results. Verso's long-standing reputation for quality and reliability is directly tied to our vision to be a company with passion that is respected and trusted by all. Verso's passion is rooted in ethical business practices that demand safe workplaces for our employees and sustainable wood sourcing for our products. This passion, combined with our flexible manufacturing capabilities and an unmatched commitment to product performance, delivery and service, make Verso a preferred choice among commercial printers, paper merchants and brokers, converters, publishers and other end users. For more information, visit us online at versoco.com.
SOURCE Verso Corporation
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