Louisiana-Pacific Corp. (LPX) Prices Aggregate $350M Debt Offering
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Louisiana-Pacific Corporation (“LP”) (NYSE: LPX) announced that it has priced its offering of $350 million in aggregate principal amount of senior notes due 2024 (the “Notes”) in an offering exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The Notes will bear interest at an annual rate of 4.875%. The offering of the Notes is expected to close on September 14, 2016, subject to the satisfaction of customary closing conditions.
LP intends to use the net proceeds from the offering, together with cash on hand, to repurchase and/or redeem and retire all of its outstanding 7.500% senior notes due 2020 pursuant to its previously announced tender offer, including tender or redemption premiums with respect to such repurchase and/or redemption, and to pay related fees and expenses.
The Notes are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and to certain persons outside of the United States pursuant to Regulation S under the Securities Act. The Notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy such Notes nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
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