Financing Decisions Loom for Owner of Maine's Bankrupt Eastern Paper Mills.
By Deborah Turcotte, Bangor Daily News, Maine Knight Ridder/Tribune Business News
May 13--BANGOR, Maine -- Two lending institutions today will decide whether to lend or guaranty loans totaling $7.25 million to First Paper Holding LLC, the Connecticut-based business trying to purchase bankrupt Eastern Pulp and Paper Corp.
The $7.25 million is almost one-third of First Paper Holding's $23.725 million offer to buy Eastern Pulp. The offer is primarily composed of loans or long-term promissory notes to Eastern Pulp's primary creditors.
First Pape
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