SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (D) OF THE
THE SECURITIES ACT OF 1934
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DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): November 5, 2003
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BUCKEYE TECHNOLOGIES INC.
(Exact name of registrant as specified in its charter)
DELAWARE 33-60032 62-1518973
(State of Incorporation) (Commission File Number) (I.R.S. Employer Identification No.)
1001 Tillman Street, Memphis, Tennessee 38112
(Address of principal executive offices)
Registrant's telephone, including area code (901) 320-8100
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ITEM 5. OTHER EVENTS
On November 5, 2003, the Registrant issued the following press release.
News from
[GRAPHIC OMITTED]
FOR IMMEDIATE RELEASE
Contacts: Kris Matula, Executive Vice President
901-320-8588
Gordon Mitchell
Investor Relations Manager
901-320-8256
Website: www.bkitech.com
BUCKEYE ESTABLISHES $220 MILLION SENIOR CREDIT FACILITY
MEMPHIS, TN November 5, 2003 - Buckeye Technologies Inc. (NYSE:BKI) announced
today that it has established a $220 million senior credit facility comprised of
a $70 million revolving loan facility and a $150 million term loan facility.
This facility amends and restates the Company's existing $215 million revolving
credit facility.
Buckeye Chairman David B. Ferraro commented, "Establishment of this senior
credit facility completes the last leg of our comprehensive refinancing
initiative. This refinancing, together with the previously closed $200 million
senior notes offering due in 2013, greatly enhances the company's financial
flexibility, as we will now face no meaningful debt maturities before 2008. We
appreciate the support provided by Fleet, Citibank and UBS in securing this
senior credit facility."
Buckeye, a leading manufacturer and marketer of specialty cellulose and
absorbent products, is headquartered in Memphis, Tennessee, USA. The Company
currently operates facilities in the United States, Germany, Canada, Ireland and
Brazil. Its products are sold worldwide to makers of consumer and industrial
goods.
Certain matters discussed in this press release may constitute forward-looking
statements within the meaning of the federal securities laws that involve risks
and uncertainties, including but not limited to economic, competitive,
governmental, and technological factors affecting the Company's operations,
financing, markets, products, services and prices, and other factors. For
further information on factors which could impact the Company and the statements
contained herein, please refer to public filings with the Securities and
Exchange Commission.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report to be signed on its behalf by the
undersigned, thereunto duly authorized,
BUCKEYE TECHNOLOGIES INC.
/S/ KRISTOPHER J. MATULA
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Kristopher J. Matula
Executive Vice President and Chief Financial Officer
November 5, 2003