Feb 12, 2007. /Lesprom Network/. Norbord Inc. announced on February 9 it has arranged a private placement of $200 million of ten-year notes. The notes, which are unsecured, bear interest at the rate of 6.45% per annum and mature on February 15, 2017. The notes will be issued by Norbord (Delaware) GP I, which is wholly-owned by Norbord, and will be fully and unconditionally guaranteed by Norbord Inc. Net proceeds will be used to repay Norbord's 8 1/8% debentures due 2008 at or prior to maturity. Pending such use, it is anticipated that Norbord will invest the net proceeds in investment grade fixed income securities and short-term money market securities. Closing is anticipated to occur on February 14, 2007. Norbord Inc. is an international producer of wood-based panels and is a publicly traded company listed on the TSX.