Visy raises funds for $550mil paper mill expansion

Posted on 10/08/2008  

Paper manufacturer Visy has secured $550 million in debt funding to expand its Tumut operations. Debt funding has been more difficult to secure in the wake of the US sub-prime mortgage crisis. A spokesperson for Visy says the conditions of the loan are “satisfactory given the market conditions” and expects most of the debt will be repaid within five years. The expansion will more than double the current capacity of the mill and employ an additional 50 workers.

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