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Louisiana-Pacific Corporation Announces Receipt of Noteholder Consents, Closing of Debt Offering, Early Settlement of Tender Offer and Consent Solicitation and Call for Redemption


Louisiana-Pacific Corporation (“LP”) (NYSE: LPX) today announced the early tender results for its previously announced offer to purchase and solicitation of consents for its 13% Senior Secured Notes due 2017 (the “2017 Notes”). As of 5:00 p.m., New York City time, on May 18, 2012 (the “Consent Deadline”), holders of approximately $233.8 million, or 95.92% of the outstanding principal amount, of the 2017 Notes had validly tendered their 2017 Notes for purchase by LP and validly delivered their consents to amend the indenture governing the 2017 Notes and the related intercreditor agreement.

LP also announced the completion of its previously announced offering of $350.0 million in aggregate principal amount of its 7.500% Senior Notes due 2020 (the “2020 Notes”). The issuance and sale of the 2020 Notes generated net proceeds of approximately $342.0 million, after deducting discounts and commissions and payment of related transaction expenses. LP intends to use the net proceeds of the offering of the 2020 Notes to repurchase, redeem or otherwise retire all of its outstanding the 2017 Notes, to pay related transaction costs and for other general corporate purposes. The completion of the offering of the 2020 Notes satisfied 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.

In addition, LP announced that it has accepted for purchase and paid for all 2017 Notes validly tendered at or before the Consent Deadline, and that it has delivered an irrevocable notice of redemption for the redemption of all 2017 Notes not validly tendered at or before the Consent Deadline for redemption on June 20, 2012.

Posted-In: News Financing Offerings


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