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August 28, 2015 12:03 PM ET

Paper and Forest Products

Company Overview of Verso Paper Holdings, LLC

Company Overview

Verso Paper Holdings LLC manufactures and sells coated papers to catalog, magazine, insert, and commercial printing markets primarily in North America. The company offers coated groundwood paper, which is primarily used for catalogs and magazines; coated freesheet paper that is primarily used for annual reports, brochures, and magazine covers; and market kraft pulp, which is used to manufacture printing and writing paper grades, and tissue products. It also provides recycled papers; customized product solutions; and ultra-lightweight uncoated printing papers, and ultra-lightweight coated and uncoated flexible packaging papers. Verso Paper Holdings LLC serves the end-users of its products dir...

6775 Lenox Center Court

Suite 400

Memphis, TN 38115

United States

1,630 Employees

Phone:

901-369-4100

Key Executives for Verso Paper Holdings, LLC

Chief Executive Officer, President and Director
Age: 60
Chief Financial Officer, Principal Accounting Officer, Senior Vice President, Assistant Secretary and Director
Age: 53
Senior Vice President of Manufacturing and Energy
Age: 59
Chief Information Officer and Vice President
Age: 67
Vice President, Secretary and General Counsel
Age: 57
Compensation as of Fiscal Year 2015.

Verso Paper Holdings, LLC Key Developments

Verso Paper Holdings and Verso Paper Extend Expiration Date for Exchange Offers for Their Second Priority Adjustable Senior Secured Notes and Adjustable Senior Subordinated Notes

Verso Paper Holdings and Verso Paper extended the expiration date for their previously announced exchange offers from 5 p.m., New York City time, on August 20, to 5 p.m., New York City time, on Tuesday, August 25, unless further extended. On July 22, the Issuers commenced their offers to exchange up to $180,767,777 aggregate principal amount of their Second Priority Adjustable Senior Secured Notes and related guarantees registered under the Securities Act of 1933 for any and all of the outstanding like principal amount of their Second Priority Adjustable Senior Secured Notes and related guarantees, and $65,026,237 aggregate principal amount of their Adjustable Senior Subordinated Notes and related guarantees registered under the Securities Act for any and all of the outstanding like principal amount of their Adjustable Senior Subordinated Notes and related guarantees. As of 5 p.m., New York City time, on August 20, Wilmington Trust, National Association, the exchange agent for the exchange offers, advised that $180,691,241 aggregate principal amount of the outstanding Original Second Priority Notes had been tendered for exchange, representing approximately 99.96% of such outstanding notes, and that $64,924,687 aggregate principal amount of the outstanding Original Subordinated Notes had been tendered for exchange, representing approximately 99.84% of such outstanding notes. On July 21, the Securities and Exchange Commission declared the Form S-4 registration statement filed by the Issuers regarding the exchange offers effective under the Securities Act. The expiration date for the exchange offers was extended to provide time for the remaining outstanding Original Second Priority Notes and Original Subordinated Notes to be exchanged.

Verso Paper Holdings, LLC Announces Election of Directors

On January 7, 2015, David J. Paterson, the president and chief executive officer of Verso Paper Corp. and Robert P. Mundy, the senior vice president and chief financial officer of Verso Paper Corp., were elected to serve as the directors of Verso Paper Holdings, LLC following the removal without cause of the existing directors of Verso Paper Holdings, LLC.

American Iron and Metal Eyes Bucksport Paper Mill

American Iron & Metal Company, Inc. plans to acquire Bucksport paper mill from Verso Paper Holdings, LLC for $60 million. Verso representatives have said the sale is expected to be completed early 2015.

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