Columbia Pulp Cancels Bond Sale

DAYTON—An update on the status of the planned Columbia Pulp facility near Starbuck was given by Port of Columbia Manager Jennie Dickinson at the Community Economic Development Strategy meeting last Wednesday.

Dickinson told participants that half of Columbia Pulp’s bond sold, but that private equity investors have pulled out of the process.

Dickinson said that Columbia Pulp CEO John Begley told her that “due to the inability to close on the equity side of the transaction on the timeline needed for bond cap expiration, the transaction will be moved to 2017, after bond reallocation”.

“We still firmly believe in and are committed to the project, as is Goldman-Sachs”, Begley said in his communication to Dickinson.