Jun 07, 2012. /Lesprom Network/. Norbord Inc. has priced its offering of approximately $240 million in aggregate principal amount of senior notes (the Notes). The Notes will be due June 15, 2015 and will bear interest at an annual rate of 6.25%. Norbord expects to close the offering of the Notes on June 15, 2012, subject to the satisfaction of customary closing conditions, as the company said in a press release received by Lesprom Network. As previously announced, the offering is comprised of two tranches. The first tranche consists of $165 million of senior secured notes that will rank pari passu with the Company’s existing senior secured notes due 2017 and committed revolving bank lines. The second tranche consists of $75 million of senior unsecured notes. The senior secured notes were offered by a syndicate of underwriters by way of a private placement under applicable securities laws. The senior unsecured notes have been placed directly with an unrelated institutional investor. Norbord intends to use the net proceeds from the Notes offering to refinance its existing $240 million 7.25% debentures due July 1, 2012. Norbord Inc. is an international producer of wood-based panels with assets of $1 billion, employing approximately 2,000 people at 13 plant locations in the United States, Europe and Canada. Norbord is one of the world’s largest producers of oriented strand board.