Weyerhaeuser Company announces results of debt tender offer
Dec 16, 2005. Weyerhaeuser Company announced the expiration, as of 12:00 midnight, New York City time on December 14, 2005, of its maximum tender offers.
Dec 16, 2005. /Lesprom Network/. Weyerhaeuser Company announced the expiration, as of 12:00 midnight, New York City time on December 14, 2005, of its maximum tender offers. The terms and conditions of the maximum tender offers are described in the offer to purchase dated November 16, 2005.
As previously announced, the maximum principal amount to be accepted by Weyerhaeuser pursuant to the maximum tender offers is $222 250 000. Because the principal amount of 6.125% notes due March 15, 2007 validly tendered and not validly withdrawn exceeds the maximum principal amount to be accepted, Weyerhaeuser will not purchase any of its 5.950% notes due November 1, 2008. According to Global Bondholder Services Corporation, the depositary for the offers, $360,559,000 in aggregate principal amount of 6.125% notes due March 15, 2007 were validly tendered and not validly withdrawn on or before the expiration date. According to the terms and conditions of the offers, $222 250 000 in aggregate principal amount of 6.125% notes due March 15, 2007 were validly tendered and accepted for purchase, resulting in a Final Proration Factor of 61.7%.
As previously announced, $277 750 000 in aggregate principal amount of securities in the any and all offers, which expired on December 1, 2005 were validly tendered and accepted for purchase on December 2, 2005.
JPMorgan Securities, Inc. and Banc of America Securities LLC served as the dealer managers for the offers and Deutsche Bank Securities, Inc. was co-dealer manager for the offers. Global Bondholder Services Corporation served as the depositary and information agent for the offers.
Weyerhaeuser Company, one of the world's largest integrated forest products companies, was incorporated in 1900. In 2004, sales were $22.7 billion. It has offices or operations in 19 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction, development and related activities.