Louisiana-Pacific Corporation : Announces Expiration of Tender Offer for Its 13% Senior Secured Notes due 2017
06/05/2012| 11:35am US/Eastern
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Louisiana-Pacific Corporation ("LP") (NYSE:LPX) today announced the
expiration of its previously announced tender offer for its 13% Senior
Secured Notes due 2017 (the "Notes").
On May 21, 2012, LP purchased approximately $233.8 million in principal
amount at maturity of Notes, consisting of all Notes that were validly
tendered and not validly withdrawn at or before 5:00 p.m., New York City
time, on May 18, 2012 (the "Consent Deadline"). Today, LP accepted for
purchase approximately $2.5 million in principal amount at maturity of
the Notes, consisting of all Notes that were validly tendered and not
validly withdrawn after the Consent Deadline and prior to 12:00
midnight, New York City time, on June 4, 2012 (the "Expiration Time").
After giving effect to all purchases of Notes pursuant to the tender
offer, approximately $7.5 million in principal amount at maturity of
Notes remain outstanding. As previously announced, LP has elected to
redeem all Notes that remain outstanding on June 20, 2012.
This press release contains statements concerning LP that are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. The following statements are or may
constitute forward-looking statements: (1) statements preceded by,
followed by or that include words like "may," "will," "could," "should,"
"believe," "expect," "anticipate," "intend," "plan," "estimate,"
"potential," "continue" or "future" or the negative or other variations
thereof and (2) other statements regarding matters that are not
historical facts. The matters addressed in these statements are subject
to a number of risks, uncertainties and assumptions that may cause
actual results to differ materially from those projected, including, but
not limited to, changes in general economic conditions; changes in the
cost and availability of capital; changes in the level of home
construction activity; changes in competitive conditions and prices for
our products; changes in the relationship between supply of and demand
for building products; changes in the relationship between supply of and
demand for raw materials, including wood fiber and resins, used in
manufacturing our products; changes in the cost of and availability of
energy, primarily natural gas, electricity and diesel fuel; changes in
other significant operating expenses; changes in exchange rates between
the U.S. dollar and other currencies, particularly the Canadian dollar,
Australian dollar, EURO, Brazilian real and the Chilean peso; changes in
general and industry-specific environmental laws and regulations;
changes in tax laws, and interpretations thereof; changes in
circumstances giving rise to environmental liabilities or expenditures;
the resolution of existing and future product-related litigation and
other legal proceedings; and acts of public authorities, war, civil
unrest, natural disasters, fire, floods, earthquakes, inclement weather
and other matters beyond our control. These and other factors that could
cause or contribute to actual results differing materially from those
contemplated by such forward-looking statements are discussed in greater
detail in LP's Securities and Exchange Commission filings.
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. For more
information, visit www.lpcorp.com.
Louisiana-Pacific Corporation
Media Relations:
Mary Cohn,
615-986-5886
or
Investor Relations:
Becky Barckley or
Mike Kinney, 615-986-5600
© Business Wire 2012
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