Latest Verso Paper (VRS) Headlines
Verso Paper Corp. Reports Fourth Quarter and Year-End 2013 Results
Marketwire - Thu Mar 06, 6:00AM CST
Verso Paper Corp. (NYSE: VRS) today reported financial results for the fourth quarter and year ended December 31, 2013. Results for quarters ended December 31, 2013 and 2012 include:
Ceridian Announces Verso Paper Corp. Goes Live With Dayforce Human Capital Management
Business Wire - Mon Mar 03, 8:00AM CST
Ceridian announces that Verso Paper Corp., a leading North American producer of coated papers and specialty paper products went live on Dayforce HCM with Payroll, Workforce Management and Human Resources. With Dayforce HCM, the organization has effectively streamlined its HR processes, gained real-time visibility into scheduling and is able to deliver accurate and compliant pay to 2,200 employees across the organization.
Verso Paper Corp. Announces Termination of Exchange Offers and Consent Solicitations
Marketwire - Fri Feb 28, 1:47PM CST
Verso Paper Corp. ("Verso") (NYSE: VRS) reported today that the previously announced exchange offers and consent solicitations of Verso Paper Holdings LLC and Verso Paper Inc. (collectively, the "Issuers") with respect to their outstanding 8.75% Second Priority Senior Secured Notes due 2019 (the "Second Lien Notes") and 11 3/8% Senior Subordinated Notes due 2016 (the "Subordinated Notes") expired pursuant to their terms at 5:00 p.m., New York City Time, on February 27, 2014. As of the expiration date, the minimum tender conditions for the exchange offers had not been satisfied. The Issuers have not accepted any of the Second Lien Notes or Subordinated Notes for exchange, and any notes tendered for exchange will be promptly returned to holders.
Certain Holders of the Verso Paper 8.75% Second Lien Notes Have Received and Rejected a Proposal From Verso Paper
Marketwire - Fri Feb 28, 9:51AM CST
Certain holders of the $396 million outstanding principal amount in Verso Paper 8.75% Second Lien Notes (respectively, the "Holders" and the "Second Lien Notes") have been in discussions with Verso Paper Corp. ("Verso Paper") on the terms of the exchange offer for the Second Lien Notes first announced by Verso Paper on January 6, 2014 (the "Exchange Offer").
Verso Paper Corp. Announces Extension of Exchange Offers and Consent Solicitations
Marketwire - Fri Feb 21, 7:04AM CST
Verso Paper Corp. (NYSE: VRS) announced today 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 (the "Old Second Lien Notes") and 11 3/8% Senior Subordinated Notes due 2016 (the "Old Subordinated Notes") from 5:00 p.m., New York City time, on Thursday, February 20, 2014, to 5:00 p.m., New York City time, on Thursday, February 27, 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 (collectively, the "Exchange Offer Documents"), copies of which were previously distributed to eligible holders of the Old Second Lien Notes and the Old Subordinated Notes.
NYSE Accepts Verso's Plan to Regain Compliance With Market Capitalization Continued Listing Standard
Marketwire - Mon Feb 17, 5:31PM CST
Verso Paper Corp. (NYSE: VRS) announced today that the New York Stock Exchange has accepted Verso's plan to regain compliance with the NYSE's market capitalization continued listing standard. As previously disclosed, the NYSE notified Verso on December 16, 2013, that it had fallen below the NYSE's continued listing standard requiring that Verso maintain an average market capitalization over a consecutive 30 trading-day period of at least $50 million or stockholders' equity of at least $50 million. As permitted by the NYSE's rules, Verso recently submitted to the NYSE a plan to regain compliance with the market capitalization standard. The NYSE accepted the compliance plan and notified Verso of such acceptance on February 14, 2014. With the NYSE's acceptance of the plan, Verso has until February 21, 2015, in which to regain compliance. In the meantime, Verso's common stock will continue to be traded on the NYSE, subject to ongoing monitoring by the NYSE and Verso's compliance with all other applicable NYSE requirements. As of the close of trading on February 14, 2014, Verso's average market capitalization over the prior 30 consecutive trading days was approximately $159 million.
NewPage Declares Special Distribution
PR Newswire - Tue Feb 11, 3:45PM CST
NewPage Holdings Inc. ("NewPage") today announced that its board of directors has declared a special distribution of $34.29 per share of common stock, payable on February 21, 2014. Stockholders of record on the NewPage books at the close of business on February 14, 2014 are entitled to the special distribution.
NewPage Announces New Financing
PR Newswire - Tue Feb 11, 3:30PM CST
NewPage Holdings Inc. ("NewPage") today announced that its wholly-owned subsidiary, NewPage Corporation, closed on financing consisting of a new $750 million term loan facility led by Credit Suisse Securities (USA) LLC (the "Term Loan Facility") and a new $350 million ABL Facility led by Barclays Bank PLC (the "ABL Facility" and, together with the Term Loan Facility, the "Facilities"). Amounts drawn under the Term Loan Facility will bear interest at either the LIBOR rate plus a margin of 8.25% or at a base rate plus a margin of 7.25%, and amounts drawn under the ABL Facility bear annual interest at either the LIBOR rate plus a margin of 1.75% to 2.25% or at a base rate plus a margin of 0.75% to 1.25% (subject to adjustments based on utilization of the ABL Facility).
Verso Regains Compliance With NYSE's Share Price Continued Listing Standard
Marketwire - Mon Feb 10, 2:59PM CST
Verso Paper Corp. (NYSE: VRS) announced today that it has regained compliance with the New York Stock Exchange's share price continued listing standard. In a recent letter, the NYSE notified Verso that it had satisfied the NYSE's standard by virtue of the fact that as of January 31, 2014, both the closing share price of Verso's common stock and its average closing share price over the preceding 30 consecutive trading days were in excess of the $1.00 minimum threshold required by the NYSE. On January 31, 2014, Verso's closing share price was $3.00 and its average closing share price was $2.25. As a result of this occurrence, Verso's common stock will continue to be traded on the NYSE, subject to ongoing monitoring by the NYSE and Verso's compliance with all other applicable NYSE requirements.
5 Stocks Under $10 Set to Soar
at The Street - Thu Feb 06, 2:15PM CST
These under-$10 stocks look ready to trade higher from current levels.
VRS NOTEHOLDER ALERT: Law Firm of Wohl & Fruchter LLP Investigating Recently Announced Debt Exchange Offer Involving Senior Secured and Subordinated Notes
Business Wire - Thu Feb 06, 9:00AM CST
The law firm of Wohl & Fruchter LLP is investigating the debt exchange offer recently announced by Verso Paper Corp. (Verso) (NYSE: VRS).
Verso to Report Fourth Quarter and 2013 Results and Host Conference Call on March 6
Marketwire - Wed Feb 05, 5:00AM CST
Verso Paper Corp. (NYSE: VRS) today announced that it will report its financial results for the fourth quarter ended December 31, 2013, and year-end results in a news release before the market opens on Thursday, March 6, 2014. Also on March 6, management will host a conference call at 9 a.m. Eastern Standard Time to discuss the fourth quarter and year-end results.
4 Stocks Under $10 Triggering Breakouts
at The Street - Fri Jan 31, 6:00AM CST
These under-$10 stocks are within range of triggering breakout trades.
Verso Partners in Project to Identify and Map Vernal Pools on Michigan State Forest Lands
Business Wire - Wed Jan 29, 6:55AM CST
Verso Paper Corp. (NYSE:VRS) today announced a new, unique vernal pools project involving collaboration with the Michigan Department of Natural Resources (MDNR), the Michigan Forest Products Council (MFPC) and the Michigan Natural Features Inventory (MNFI), a program of Michigan State University Extension (MSUE). The project involves a targeted effort to identify and map vernal pools on state forest lands in Michigan's Upper Peninsula, a region where Verso procures wood for its paper and pulp production.
Verso Announces Expiration of Early Tender Period of Exchange Offers
Business Wire - Tue Jan 28, 8:00AM CST
Verso Paper Corp. (NYSE:VRS) announced the expiration of the early tender time at 12:00 midnight on January 27, 2014 (as it may be extended, the "Early Tender Time") for the offers to exchange new Second Priority Adjustable Senior Secured Notes (the "New Second Lien Notes") and new Adjustable Senior Subordinated Notes (the "New Subordinated Notes") for any and all outstanding 8.75% Second Priority Senior Secured Notes due 2019 (the "Old Second Lien Notes") and 11a...oe% Senior Subordinated Notes due 2016 (the "Old Subordinated Notes"), respectively, in connection with the pending merger of Verso and NewPage Holdings Inc. ("NewPage").
Verso Commences Debt Exchange Offers
Business Wire - Mon Jan 13, 5:07PM CST
Verso Paper Corp. (NYSE:VRS) announced today that two of its wholly owned subsidiaries, Verso Paper Holdings LLC and Verso Paper Inc. (collectively, the "Issuers"), have launched offers to exchange new Second Priority Adjustable Senior Secured Notes (the "New Second Lien Notes") and new Adjustable Senior Subordinated Notes (the "New Subordinated Notes") for any and all of their outstanding 8.75% Second Priority Senior Secured Notes due 2019 (the "Old Second Lien Notes") and 11a...oe% Senior Subordinated Notes due 2016 (the "Old Subordinated Notes"), respectively.
3 Stocks to Get on Your Watchlist
Sean Williams, The Motley Fool - Motley Fool - Wed Jan 08, 3:08PM CST
I follow quite a lot of companies, so the usefulness of a watchlist to me cannot be overstated. Without my watchlist, I'd be unable to keep up with my favorite sectors and see what's really moving the market. Even worse, I'd be lost when the time...
Goldman Hits Paydirt With Verso, NewPage Deal
at The Street - Wed Jan 08, 12:48PM CST
A look through Goldman and Apollo's involvement in what is an early candidate for deal of 2014.
Verso Paper Corp. Reports Fourth Quarter and Year-End 2013 Results
Marketwire - Thu Mar 06, 6:00AM CST
Verso Paper Corp. (NYSE: VRS) today reported financial results for the fourth quarter and year ended December 31, 2013. Results for quarters ended December 31, 2013 and 2012 include:
Ceridian Announces Verso Paper Corp. Goes Live With Dayforce Human Capital Management
Business Wire - Mon Mar 03, 8:00AM CST
Ceridian announces that Verso Paper Corp., a leading North American producer of coated papers and specialty paper products went live on Dayforce HCM with Payroll, Workforce Management and Human Resources. With Dayforce HCM, the organization has effectively streamlined its HR processes, gained real-time visibility into scheduling and is able to deliver accurate and compliant pay to 2,200 employees across the organization.
Verso Paper Corp. Announces Termination of Exchange Offers and Consent Solicitations
Marketwire - Fri Feb 28, 1:47PM CST
Verso Paper Corp. ("Verso") (NYSE: VRS) reported today that the previously announced exchange offers and consent solicitations of Verso Paper Holdings LLC and Verso Paper Inc. (collectively, the "Issuers") with respect to their outstanding 8.75% Second Priority Senior Secured Notes due 2019 (the "Second Lien Notes") and 11 3/8% Senior Subordinated Notes due 2016 (the "Subordinated Notes") expired pursuant to their terms at 5:00 p.m., New York City Time, on February 27, 2014. As of the expiration date, the minimum tender conditions for the exchange offers had not been satisfied. The Issuers have not accepted any of the Second Lien Notes or Subordinated Notes for exchange, and any notes tendered for exchange will be promptly returned to holders.
Certain Holders of the Verso Paper 8.75% Second Lien Notes Have Received and Rejected a Proposal From Verso Paper
Marketwire - Fri Feb 28, 9:51AM CST
Certain holders of the $396 million outstanding principal amount in Verso Paper 8.75% Second Lien Notes (respectively, the "Holders" and the "Second Lien Notes") have been in discussions with Verso Paper Corp. ("Verso Paper") on the terms of the exchange offer for the Second Lien Notes first announced by Verso Paper on January 6, 2014 (the "Exchange Offer").
Verso Paper Corp. Announces Extension of Exchange Offers and Consent Solicitations
Marketwire - Fri Feb 21, 7:04AM CST
Verso Paper Corp. (NYSE: VRS) announced today 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 (the "Old Second Lien Notes") and 11 3/8% Senior Subordinated Notes due 2016 (the "Old Subordinated Notes") from 5:00 p.m., New York City time, on Thursday, February 20, 2014, to 5:00 p.m., New York City time, on Thursday, February 27, 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 (collectively, the "Exchange Offer Documents"), copies of which were previously distributed to eligible holders of the Old Second Lien Notes and the Old Subordinated Notes.
NYSE Accepts Verso's Plan to Regain Compliance With Market Capitalization Continued Listing Standard
Marketwire - Mon Feb 17, 5:31PM CST
Verso Paper Corp. (NYSE: VRS) announced today that the New York Stock Exchange has accepted Verso's plan to regain compliance with the NYSE's market capitalization continued listing standard. As previously disclosed, the NYSE notified Verso on December 16, 2013, that it had fallen below the NYSE's continued listing standard requiring that Verso maintain an average market capitalization over a consecutive 30 trading-day period of at least $50 million or stockholders' equity of at least $50 million. As permitted by the NYSE's rules, Verso recently submitted to the NYSE a plan to regain compliance with the market capitalization standard. The NYSE accepted the compliance plan and notified Verso of such acceptance on February 14, 2014. With the NYSE's acceptance of the plan, Verso has until February 21, 2015, in which to regain compliance. In the meantime, Verso's common stock will continue to be traded on the NYSE, subject to ongoing monitoring by the NYSE and Verso's compliance with all other applicable NYSE requirements. As of the close of trading on February 14, 2014, Verso's average market capitalization over the prior 30 consecutive trading days was approximately $159 million.
NewPage Declares Special Distribution
PR Newswire - Tue Feb 11, 3:45PM CST
NewPage Holdings Inc. ("NewPage") today announced that its board of directors has declared a special distribution of $34.29 per share of common stock, payable on February 21, 2014. Stockholders of record on the NewPage books at the close of business on February 14, 2014 are entitled to the special distribution.
NewPage Announces New Financing
PR Newswire - Tue Feb 11, 3:30PM CST
NewPage Holdings Inc. ("NewPage") today announced that its wholly-owned subsidiary, NewPage Corporation, closed on financing consisting of a new $750 million term loan facility led by Credit Suisse Securities (USA) LLC (the "Term Loan Facility") and a new $350 million ABL Facility led by Barclays Bank PLC (the "ABL Facility" and, together with the Term Loan Facility, the "Facilities"). Amounts drawn under the Term Loan Facility will bear interest at either the LIBOR rate plus a margin of 8.25% or at a base rate plus a margin of 7.25%, and amounts drawn under the ABL Facility bear annual interest at either the LIBOR rate plus a margin of 1.75% to 2.25% or at a base rate plus a margin of 0.75% to 1.25% (subject to adjustments based on utilization of the ABL Facility).
Verso Regains Compliance With NYSE's Share Price Continued Listing Standard
Marketwire - Mon Feb 10, 2:59PM CST
Verso Paper Corp. (NYSE: VRS) announced today that it has regained compliance with the New York Stock Exchange's share price continued listing standard. In a recent letter, the NYSE notified Verso that it had satisfied the NYSE's standard by virtue of the fact that as of January 31, 2014, both the closing share price of Verso's common stock and its average closing share price over the preceding 30 consecutive trading days were in excess of the $1.00 minimum threshold required by the NYSE. On January 31, 2014, Verso's closing share price was $3.00 and its average closing share price was $2.25. As a result of this occurrence, Verso's common stock will continue to be traded on the NYSE, subject to ongoing monitoring by the NYSE and Verso's compliance with all other applicable NYSE requirements.
5 Stocks Under $10 Set to Soar
at The Street - Thu Feb 06, 2:15PM CST
These under-$10 stocks look ready to trade higher from current levels.
VRS NOTEHOLDER ALERT: Law Firm of Wohl & Fruchter LLP Investigating Recently Announced Debt Exchange Offer Involving Senior Secured and Subordinated Notes
Business Wire - Thu Feb 06, 9:00AM CST
The law firm of Wohl & Fruchter LLP is investigating the debt exchange offer recently announced by Verso Paper Corp. (Verso) (NYSE: VRS).
Verso to Report Fourth Quarter and 2013 Results and Host Conference Call on March 6
Marketwire - Wed Feb 05, 5:00AM CST
Verso Paper Corp. (NYSE: VRS) today announced that it will report its financial results for the fourth quarter ended December 31, 2013, and year-end results in a news release before the market opens on Thursday, March 6, 2014. Also on March 6, management will host a conference call at 9 a.m. Eastern Standard Time to discuss the fourth quarter and year-end results.
4 Stocks Under $10 Triggering Breakouts
at The Street - Fri Jan 31, 6:00AM CST
These under-$10 stocks are within range of triggering breakout trades.
Verso Partners in Project to Identify and Map Vernal Pools on Michigan State Forest Lands
Business Wire - Wed Jan 29, 6:55AM CST
Verso Paper Corp. (NYSE:VRS) today announced a new, unique vernal pools project involving collaboration with the Michigan Department of Natural Resources (MDNR), the Michigan Forest Products Council (MFPC) and the Michigan Natural Features Inventory (MNFI), a program of Michigan State University Extension (MSUE). The project involves a targeted effort to identify and map vernal pools on state forest lands in Michigan's Upper Peninsula, a region where Verso procures wood for its paper and pulp production.
Verso Announces Expiration of Early Tender Period of Exchange Offers
Business Wire - Tue Jan 28, 8:00AM CST
Verso Paper Corp. (NYSE:VRS) announced the expiration of the early tender time at 12:00 midnight on January 27, 2014 (as it may be extended, the "Early Tender Time") for the offers to exchange new Second Priority Adjustable Senior Secured Notes (the "New Second Lien Notes") and new Adjustable Senior Subordinated Notes (the "New Subordinated Notes") for any and all outstanding 8.75% Second Priority Senior Secured Notes due 2019 (the "Old Second Lien Notes") and 11a...oe% Senior Subordinated Notes due 2016 (the "Old Subordinated Notes"), respectively, in connection with the pending merger of Verso and NewPage Holdings Inc. ("NewPage").
Verso Commences Debt Exchange Offers
Business Wire - Mon Jan 13, 5:07PM CST
Verso Paper Corp. (NYSE:VRS) announced today that two of its wholly owned subsidiaries, Verso Paper Holdings LLC and Verso Paper Inc. (collectively, the "Issuers"), have launched offers to exchange new Second Priority Adjustable Senior Secured Notes (the "New Second Lien Notes") and new Adjustable Senior Subordinated Notes (the "New Subordinated Notes") for any and all of their outstanding 8.75% Second Priority Senior Secured Notes due 2019 (the "Old Second Lien Notes") and 11a...oe% Senior Subordinated Notes due 2016 (the "Old Subordinated Notes"), respectively.
3 Stocks to Get on Your Watchlist
Sean Williams, The Motley Fool - Motley Fool - Wed Jan 08, 3:08PM CST
I follow quite a lot of companies, so the usefulness of a watchlist to me cannot be overstated. Without my watchlist, I'd be unable to keep up with my favorite sectors and see what's really moving the market. Even worse, I'd be lost when the time...
Goldman Hits Paydirt With Verso, NewPage Deal
at The Street - Wed Jan 08, 12:48PM CST
A look through Goldman and Apollo's involvement in what is an early candidate for deal of 2014.
