Nov 09, 2012. /Lesprom Network/. Ainsworth Lumber Co. announced its intention to issue $350 million of senior secured notes through a private placement (the "Debt Offering"). Concurrently with this offering, Ainsworth is launching a cash tender offer and consent solicitation (the "Tender Offer") for any and all of the Company''s previously issued 11% senior notes due 2015 (the "2015 Notes"). The Tender Offer is conditioned on, among other limited conditions, the successful completion of the Debt Offering. On October 22, 2012, Ainsworth announced its intention to proceed with a comprehensive refinancing plan involving a fully backstopped rights offering to raise gross proceeds of $175 million through the issue of common shares (the "Rights Offering"), and the Debt Offering. The aggregate net proceeds received by Ainsworth from the Rights Offering and the Debt Offering will be used to fund the Tender Offer and to repay in full Ainsworth's outstanding Senior Secured Term Loan due June 2014. Ainsworth is a leading Canadian forest products company, headquartered in Vancouver, Canada, with a reputation for the highest quality in engineered wood products.