Richmond, British Columbia, Canada, 20 June 2011 -- Catalyst Paper (TSX:CTL) is reviewing alternatives to address its capital structure. The review will focus on alternatives for its USD 250 million of 7.375% senior unsecured notes, which mature 31 March 2014.

“With the recently announced extension and amendment of our asset based lending facility, the next step is to identify appropriate opportunities to improve our balance sheet,” said Brian Baarda, chief financial officer.

Catalyst has engaged UBS Securities to assist in this process.

Catalyst Paper manufactures diverse specialty printing papers, newsprint, and pulp. Its customers include retailers, publishers, and commercial printers in North America, Latin America, the Pacific Rim, and Europe. With four mills located in British Columbia, Canada, and Arizona, USA, Catalyst has a combined annual production capacity of 1.9 million metric tons. The company is headquartered in Richmond, British Columbia, and its common shares trade on the Toronto Stock Exchange under the symbol CTL. Catalyst is listed on the Jantzi Social Index and is ranked by Corporate Knights as one of the 50 Best Corporate Citizens in Canada.