Wausau to sell $50 million of senior notes due 2017

Wausau to sell $50 million of notes

MOSINEE, Wis. — Paper manufacturer Wausau Paper Corp. said Thursday it has agreed to sell $50 million of Series A Senior Notes due in 2017.

The company said it plans to use the proceeds to pay down debt.

The notes have an interest rate of 5.69 percent per year.

Wausau said its agreement with Prudential Investment Management and affiliates also establishes a three-year private shelf facility under which up to $125 million of additional promissory notes may be issued.

Shares rose 22 cents, or 2.6 percent, to close at $8.76.