NASHVILLE, Tenn.--(BUSINESS WIRE)--May. 9, 2012--
Louisiana-Pacific Corporation (“LP”) (NYSE:LPX) today announced that it
has priced its private offering of $350 million aggregate principal
amount of Senior Notes due 2020 (the “Notes”). The Notes will bear
interest at an annual rate of 7.5%. LP expects to close the offering of
the Notes on May 21, 2012, subject to the satisfaction of customary
closing conditions.
LP intends to use the net proceeds of the offering of the Notes to
repurchase, redeem or otherwise retire all of its outstanding 13% Senior
Secured Notes due 2017 (the “2017 Notes”), to pay related transaction
costs and for other general corporate purposes. The consummation of the
offering of the Notes will satisfy the financing condition for LP’s
previously announced cash tender offer and consent solicitation with
respect to any and all of the outstanding 2017 Notes.
The Notes have not been registered under the Securities Act of 1933, as
amended, and may not be offered or sold within the United States or to,
or for the account or benefit of, U.S. persons except pursuant to an
exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act of 1933, as amended. This press
release shall not constitute an offer to sell or a solicitation of an
offer to buy any security and shall not constitute an offer,
solicitation or sale of any securities in any jurisdiction where the
offering would not be permitted. This press release contains information
about pending transactions, and there can be no assurance that these
transactions will be completed.
LP’s previously announced tender offer and related consent solicitation
are being made on the terms and subject to the conditions set forth in
the Offer to Purchase and Consent Solicitation Statement, dated May 7,
2012, and the related Letter of Transmittal and Consent. Under no
circumstances shall this press release constitute an offer to buy or the
solicitation of an offer to sell any of the outstanding 2017 Notes.
About LP
Louisiana-Pacific Corporation is a leading manufacturer of
quality engineered wood building materials including OSB, structural
framing products, and exterior siding for use in residential,
industrial and light commercial construction. From manufacturing
facilities in the U.S., Canada, Chile and Brazil, LP products are sold
to builders and homeowners through building materials distributors and
dealers and retail home centers. Founded in 1973, LP is headquartered in
Nashville, Tennessee and traded on the New York Stock Exchange under LPX.
Source: Louisiana-Pacific Corporation
Louisiana-Pacific Corporation
Media Relations:
Mary Cohn,
615-986-5886
or
Investor Relations:
Becky Barckley or
Mike Kinney, 615-986-5600
