Louisiana-Pacific Corporation Announces Launch of Debt Offering of $300M
Louisiana-Pacific Corporation (NYSE: LPX) today announced that it has commenced an offering of $300 million in aggregate principal amount of Senior Notes due 2020.
LP intends to use the net proceeds from the offering to repurchase, redeem or otherwise retire all of its outstanding 13% Senior Secured Notes due 2017, to pay related transaction costs and for other general corporate purposes. LP announced separately today that it has commenced a cash tender offer and consent solicitation for any and all of the 2017 Notes. In connection with the retirement of the 2017 Notes, LP expects to record a charge in the second quarter of 2012 of $53.2 million associated with the write off of the remaining unamortized original discount and deferred debt issuance costs associated with such Notes.
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