Plum Creek Timber Company, Inc. (NYSE: PCL) today announced that it intends to offer 14,100,000 shares of its common stock, par value $0.01 per share, in an underwritten public offering, subject to market and other conditions. In addition, Plum Creek intends to grant the underwriters a 30-day option to purchase up to 2,115,000 additional shares of Plum Creek common stock to cover over-allotments, if any. Plum Creek intends to use the net proceeds from the offering, if completed, to finance the acquisition of timberlands and other real estate assets from MeadWestvaco Corporation that was announced earlier today, and for general corporate purposes, including the repayment of a portion of Plum Creek’s outstanding debt.
Goldman, Sachs & Co. and J.P. Morgan Securities LLC are serving as joint book-running managers for the offering. Wells Fargo Securities, LLC is also serving as a bookrunner. Mitsubishi UFJ Securities (USA), Inc., Piper Jaffray & Co., RBS Securities Inc., Rabo Securities USA, Inc. and The Williams Capital Group, L.P. are serving as co-managers. The shares are being offered pursuant to an effective shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission (SEC). The offering will be made only by means of a prospectus supplement and the accompanying prospectus, copies of which may be obtained, when available, from Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY, 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316, or by emailing email@example.com, or from J.P. Morgan Securities LLC, attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 866-803-9204.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
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