September 19, 2014 10:37 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 in North America. It offers coated groundwood paper, which is used for catalogs and magazines; and coated freesheet paper for annual reports, brochures, and magazine covers. The company also produces and sells kraft pulp used to manufacture printing and writing paper grades, and tissue products. In addition, Verso Paper Holdings offers recycled paper; customized product solutions; rotogravure coated groundwood and rotogravure coated freesheet; and ultra-lightweight uncoated printing papers, and ultra-lightweight coated and uncoated flexible packaging papers. It sells it...

6775 Lenox Center Court

Suite 400

Memphis, TN 38115-4436

United States

2,100 Employees

Phone:

901-369-4100

Key Executives for Verso Paper Holdings, LLC

Chief Executive Officer
Age: 59
Chief Financial Officer
Age: 52
Vice President
Age: 56
Senior Vice President of Manufacturing and Energy
Age: 58
Chief Information Officer and Vice President
Age: 66
Compensation as of Fiscal Year 2014.

Verso Paper Holdings, LLC Key Developments

Verso Paper Holdings and Verso Paper Amends Terms of its Previously Announced Exchange Offer and Consent Solicitation with Respect to its Outstanding 11 3/8% Senior Subordinated Notes Due 2016

Verso Paper said two of its subsidiaries, Verso Paper Holdings and Verso Paper, have amended the terms of their previously announced exchange offer and consent solicitation with respect to their outstanding 11 3/8% senior subordinated notes due 2016. The subordinated notes exchange offer, together with the Issuers' previously announced exchange offer and consent solicitation with respect to their outstanding 8.75% second priority senior secured notes due 2019 are being conducted pursuant to the agreement and plan of merger dated as of January 3, among Verso, Verso Merger Sub, and NewPage Holdings, pursuant to which Verso will acquire NewPage by means of the merger of merger sub with and into NewPage on the terms and subject to the conditions set out in the merger agreement, with NewPage surviving the merger as a subsidiary of Verso. The closing of the merger is conditioned upon consummation of the exchange offers.

Verso Paper Holdings and Verso Paper Receives Letter from NewPage Holdings Regarding the Status of Earlier Exchange Offers

On February 20, 2014, Verso Paper Corp. received a letter from NewPage Holdings Inc. regarding the status of the previously announced exchange offers and consent solicitations being conducted by two of Verso's subsidiaries, Verso Paper Holdings LLC and Verso Paper Inc., with respect to their 8.75% Second Priority Senior Secured Notes due 2019 and 11% Senior Subordinated Notes due 2016.

Verso Paper Announces Extension of Exchange Offers and Consent Solicitations

Verso Paper Corp. announced that two of its wholly owned subsidiaries, Verso Paper Holdings LLC and Verso Paper Inc. (collectively, the "Issuers"), have extended the expiration date for their previously announced exchange offers and consent solicitations with respect to their outstanding 8.75% Second Priority Senior Secured Notes due 2019 and 11 3/8% Senior Subordinated Notes due 2016 from 12:00 midnight, New York City time, on February 10, 2014, to 5:00 p.m., New York City time, on February 14, 2014, unless further extended. All other terms, provisions and conditions of the exchange offers and consent solicitations will remain in full force and effect. Such terms, provisions and conditions are set forth in the Issuers' confidential offering memorandum and consent solicitation statement dated as of January 13, 2014, and the related consent and letter of transmittal, copies of which were previously distributed to eligible holders of the Old Second Lien Notes and the Old Subordinated Notes. On January 13, 2014, the Issuers commenced exchange offers to exchange new Second Priority Adjustable Senior Secured Notes and new Adjustable Senior Subordinated Notes for any and all of their outstanding Old Second Lien Notes and Old Subordinated Notes, respectively. In connection with the exchange offers, the Issuers have solicited consents to amend the Old Second Lien Notes, the Old Subordinated Notes and the indentures governing the Old Second Lien Notes and the Old Subordinated Notes. As of 12:00 midnight, New York City time, on February 10, 2014, the Issuers have been informed by the exchange agent that approximately $8.1 million aggregate principal amount of the Old Second Lien Notes and approximately $2.8 million aggregate principal amount of the Old Subordinated Notes had been tendered for exchange.

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