Sep 03, 2004. /Lesprom Network/. Louisiana-Pacific Corporation announced today it has executed a new five-year, unsecured $150 million committed revolving bank credit agreement. The new arrangement, which replaces LP's prior $125 million secured letter of credit facility, includes the ability to increase the revolver to $250 million during its term. "We are very pleased with this new facility and the strong support LP has received from both our continuing banking group and the new banks who chose to participate," said Mark Tobin, treasurer. "This facility provides LP with greater flexibility over a longer term at attractive pricing. The banks have recognized the progress LP has made in building our financial and business strength, and they are providing additional support as we move forward in executing our business plan." Members of LP's continuing banking group are filling the following roles in the new facility: Wachovia Bank, National Association and Bank of America, N.A. will act as joint lead arrangers, Royal Bank of Canada and The Bank of Nova Scotia will serve as documentation co-agents, and Export Development Canada will continue to participate. Added participants in the new facility are: Wells Fargo Bank, N.A., Union Planters Bank, N.A., Sumitomo Mitsui Banking Corporation and First Tennessee Bank National Association.