Catalyst Paper Reaches Agreement on Financing Facilities to Exit Bankruptcy

The Exit Facility will be provided by certain holders of Catalyst’s First Lien Notes and will be secured by a charge on certain assets of Catalyst and its subsidiaries ranking senior to the lien securing the $250 million of new secured notes (the Plan Notes) to be issued under the Second Amended Plan of Arrangement (the Amended Plan). Customary commitment fees for a facility of this nature are payable to the lenders in connection with the Exit Facility.