Catalyst Paper Reaches Agreement on Financing Facilities

The Exit Facility of US$80 million, or a lesser amount at Catalyst’s option, or if Catalyst’s liquidity exceeds a specified amount, is available to Catalyst upon its exit from creditor protection, has a maturity date of four years from that exit and can be prepaid in whole or in part at any time for a premium initially of 3% and declining annually thereafter. The Exit Facility is subject to the completion of documentation and certain other conditions.