Wausau Paper Corp. – ‘8-K’ for 6/28/05

On:  Monday, 7/11/05, at 4:48pm ET   ·   For:  6/28/05   ·   Accession #:  916480-5-107   ·   File #:  1-13923

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Wp Form 8-K                                            3     13K 
 2: EX-4.1      Wp Exhibit 4.1 - Amendment No. 1 to Note Purchase      8     33K 
                          Agreement                                              

8-K   —   Wp Form 8-K
Document Table of Contents

8-K
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UNITED STATES 
SECURITIES AND EXCHANGE COMMISSION  
WASHINGTON, D.C. 20549  

_________________________ 

FORM 8-K  

CURRENT REPORT  

Pursuant to Section 13 or 15(d) of the Securities 
Exchange Act of 1934  

_________________________ 

Date of Report (date of earliest event reported):  JUNE 28, 2005  

WAUSAU PAPER CORP.  
(Exact name of registrant as specified in its charter)  

 WISCONSIN                  1-13923                   39-0690900
(State or other          (Commission File              (IRS Employer
jurisdiction of               Number)                 Identification
incorporation)                                            Number)   

100 PAPER PLACE 
MOSINEE, WI 54455-9099  
(Address of principal executive offices, including Zip Code)  

(715) 693-4470  
(Registrant's telephone number, including area code)  

 Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the 
following provisions:                                                           

 *  Written communications pursuant to Rule 425 under the Securities Act (17
CFR 23.425)                                                         

*  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 
CFR 240.14a-12)                                                     

*  Pre-commencement communications pursuant to Rule 14d-2(b) under the    
Exchange Act (17 CFR 240.14d-2(b))                                  
*  Pre-commencement communications pursuant to Rule 13e-4(c) under the    
Exchange Act (17 CFR 240.13e-4(c))                                  

8-K
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INFORMATION TO BE INCLUDED IN THE REPORT  

SECTION 1 - REGISTRANT'S BUSINESS AND OPERATIONS                                

ITEM 1.01.  ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT                          

   On June 28, 2005, the Company and the required holders of the Company's
$138,500,000 Senior Notes agreed to amend certain financial covenants included  
in the related Note Purchase Agreement in order to bring them into conformity   
with the financial covenants under the Company's existing $100,000,000 senior   
credit facility which will expire on August 31, 2008.  The Company's "Senior    
Notes" are the $35,000,000 Series A Notes due August 31, 2007, $68,500,000      
Series B Notes due August 31, 2009, and $35,000,000 Series C Notes due August   
31, 2011.                                                                       

Under the amendments, the Company's minimum consolidated net worth  
covenant was $284,005,000 as of March 31, 2005.  The minimum consolidated net   
worth is adjusted quarterly to include 25% of the Company's consolidated net    
income for the previous quarter (with no deduction for any net loss) and for    
the proceeds of any sale by the Company of equity interests.  At the time of    
the amendment, the Company was in full compliance with the terms of all         
financial and other covenants under the Senior Notes and the credit facility    
and remains in compliance with the amended terms.                               

 In addition to the change in the consolidated net worth covenant, the
maximum ratio of indebtedness to total capitalization was decreased to .55 to 1 
from .60 to 1 to conform to a similar covenant in the Company's senior credit   
facility.                                                                       

SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS                                   

ITEM 9.01   FINANCIAL STATEMENTS AND EXHIBITS                                   

 Exhibit 4.1 Amendment No. 1 to Note Purchase Agreement dated June 28,
2005.                                                                           

8-K
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SIGNATURES  

    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 hereunto duly authorized.                                           

          WAUSAU PAPER CORP.

Date:  July 11, 2005                By:    SCOTT P. DOESCHER                    
                       Scott P. Doescher
                                   Senior Vice President-Finance

EXHIBIT INDEX 
TO  
FORM 8-K  
OF  
WAUSAU PAPER CORP.  
DATED JUNE 28, 2005 
Pursuant to Section 102(d) of Regulation S-T  
(17 C.F.R. Section 232.102(d))  

4.1   AMENDMENT NO. 1 TO NOTE PURCHASE AGREEMENT DATED JUNE 28, 2005.           

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘8-K’ Filing		Date		First		Last			Other Filings
		8/31/11		2
		8/31/09		2					4
		8/31/08		2
		8/31/07		2
Filed on:		7/11/05		3
For Period End:		6/28/05		1		3
		3/31/05		2					10-Q,  4
									List all Filings