Fibrek Inc recently completed the previously announced redemption of all of its outstanding 7% convertible unsecured subordinated debentures maturing on December 31, 2011 (the "Debentures") for an aggregate principal amount of $25,875,000. Fibrek paid to the holders of Debentures a redemption price equal to the principal amount of the redeemed Debentures, plus accrued and unpaid interest up to but excluding the redemption date, for a total of $26,758,373. Fibrek funded the redemption through cash from operations and availability under its credit facility.
