This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Louisiana-Pacific Corporation Announces Receipt Of Noteholder Consents, Closing Of Debt Offering, Early Settlement Of Tender Offer And Consent Solicitation And Call For Redemption

Louisiana-Pacific Corporation (“LP”) (NYSE:LPX) today announced the early tender results for its previously announced offer to purchase and solicitation of consents for its 13% Senior Secured Notes due 2017 (the “2017 Notes”). As of 5:00 p.m., New York City time, on May 18, 2012 (the “Consent Deadline”), holders of approximately $233.8 million, or 95.92% of the outstanding principal amount, of the 2017 Notes had validly tendered their 2017 Notes for purchase by LP and validly delivered their consents to amend the indenture governing the 2017 Notes and the related intercreditor agreement.

LP also announced the completion of its previously announced offering of $350.0 million in aggregate principal amount of its 7.500% Senior Notes due 2020 (the “2020 Notes”). The issuance and sale of the 2020 Notes generated net proceeds of approximately $342.0 million, after deducting discounts and commissions and payment of related transaction expenses. LP intends to use the net proceeds of the offering of the 2020 Notes to repurchase, redeem or otherwise retire all of its outstanding the 2017 Notes, to pay related transaction costs and for other general corporate purposes. The completion of the offering of the 2020 Notes satisfied the financing condition for LP’s previously announced cash tender offer and consent solicitation with respect to any and all of the outstanding 2017 Notes.

In addition, LP announced that it has accepted for purchase and paid for all 2017 Notes validly tendered at or before the Consent Deadline, and that it has delivered an irrevocable notice of redemption for the redemption of all 2017 Notes not validly tendered at or before the Consent Deadline for redemption on June 20, 2012.

LP’s tender offer and consent solicitation are subject to the terms and conditions set forth in LP’s Offer to Purchase and Consent Solicitation Statement, dated May 7, 2012 (the “Offer to Purchase”), and the related Letter of Transmittal and Consent (the “Letter of Transmittal”). The tender offer will expire at 12:00 midnight, New York City time, on June 4, 2012 (the “Expiration Time”), unless extended or earlier terminated. Following the Consent Deadline, tendered 2017 Notes may not be withdrawn and the related consents delivered may not be revoked, except as required by law. No consents delivered after the Consent Deadline will be accepted or paid for, and holders of 2017 Notes tendered after the Consent Deadline but prior to the Expiration Time will be entitled to receive the tender offer consideration of $956.17 per $1,000 principal amount of 2017 Notes at maturity but will not be entitled to receive any consent payment.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,059.82 +80.69 0.48%
S&P 500 1,992.60 +6.09 0.31%
NASDAQ 4,529.1950 +2.7130 0.06%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs