NewPage Corporation has successfully completed its financial restructuring and has officially emerged from Chapter 11 bankruptcy protection pursuant to its Modified Fourth Amended Chapter 11 Plan (the Plan), confirmed on December 14, 2012, by the U.S. Bankruptcy Court for the District of Delaware in Wilmington.

In conjunction with the Plan, NewPage closed on its exit financing, consisting of a $500 million term loan facility led by Goldman Sachs Lending Partners LLC and a $350 million revolving credit facility led by J.P. Morgan Securities LLC.

"This is an exciting day for all of us at NewPage," said George F. Martin , president and chief executive officer. "We have successfully completed our restructuring, and we have emerged as a financially sound company. This step helps to solidify our position as the leading North American producer of printing and specialty papers. We look forward to continuing to provide our customers with exceptional service and high-quality products, operating safe and efficient mills and being a responsible community member."

Martin continued, "I would like to thank our customers and suppliers for their support during this process. I would also like to extend my gratitude to our employees for their hard work and tireless dedication throughout the reorganization and the challenging period leading up to it."

Jay A. Epstein , senior vice president and chief financial officer for NewPage, added, "Through the reorganization process, we significantly reduced our debt and emerged with a sustainable capital structure. Our exit facility will provide ample liquidity to meet all of our working capital and capital investment needs."

NewPage is a producer of printing and specialty papers in North America with $3.5 billion in net sales for the year ended December 31, 2011.