Norbord Announces Proposed Senior Secured Notes Offering
NORBORD INC (OSB)
US:NYSE Investor Relations:
norbord.com/investors
Company Research
Source: PR Newswire
TORONTO, June 18, 2019 /PRNewswire/ - Norbord Inc. ("Norbord" or the "Company") (TSX and NYSE: OSB) today announced its intention, subject to market and other conditions, to launch an offering of approximately US$350 million in aggregate principal amount of senior secured notes (the "Notes").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 will be 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 pursuant to a trust indenture ("2020 Note Indenture") in accordance with the terms and conditions of the 2020 Note Indenture. Any remaining net proceeds may be used for share repurchases, su
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