Norbord Announces Pricing of Senior Secured Notes Offering
NORBORD INC (OSB)
US:NYSE Investor Relations:
norbord.com/investors
Company Research
Source: PR Newswire
TORONTO, June 19, 2019 /PRNewswire/ - Norbord Inc. ("Norbord" or the "Company") (TSX and NYSE: OSB) today announced that it has priced its offering of US$350 million in aggregate principal amount of senior secured notes (the "Notes") at par. The Notes will be due 2027 and will bear interest at an annual rate of 5.750%. The Company expects to close the offering of the Notes on June 24, 2019, subject to the satisfaction of customary closing conditions.As previously announced, the Notes will rank pari passu with the Company's existing 5.375% Senior Secured Notes due 2020 (the "2020 Notes") and 6.250% Senior Secured Notes due 2023 and committed revolving bank lines. The Notes were offered by a syndicate of initial purchasers by way of a private placement under applicable securities laws. Norbord intends to use the net proceeds from this offering to redeem for cash all of the outstanding 2020 Notes, including the associated "make-whole" premium required for such redemption, issued pursua
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