Key Developments: Louisiana-Pacific Corp (LPX.N)
16.85USD
1 Aug 2013
$0.59 (+3.63%)
$16.26
$16.49
$17.19
$16.49
871,441
764,093
$22.55
$10.10
Latest Key Developments (Source: Significant Developments)
Canfor Corp Announces Completion of Sale of Peace Valley OSB Joint Venture to Louisiana-Pacific Corp
Canfor Corp announced that further to its news release of November 28, 2012, it has completed the sale of its 50% interest in the Peace Valley Oriented Strand Board (OSB) joint venture in Fort St. John, B.C., to Louisiana-Pacific Corp (LP). LP is now the sole owner of the Peace Valley OSB mill. The proceeds of the sale are $77 million including working capital. In addition, Canfor will receive further consideration over a 3 year period based on Peace Valley OSB trailing twelve month EBITDA. Full Article
Canfor Corp Announces To Sell Shares In Peace Valley OSB Joint Venture To Louisiana Pacific Corp
Canfor Corp announced that it has entered into a Letter of Intent with Louisiana Pacific Corp (LP) to sell Canfor's 50 % share in the Peace Valley Oriented Strand Board (OSB) joint venture in Fort St. John, B.C. By completing this sale, LP will become the sole owner of the Peace Valley OSB mill. The purchase price is estimated at $75 million CDN including working capital. In addition, Canfor may receive additional annual consideration over a 3 year period based on Peace Valley OSB's annual EBITDA.The completion of this transaction is expected to occur by the end of this year, but is subject to the parties executing a definitive agreement and customary regulatory approvals. Full Article
Louisiana Pacific Corp Announces Closing Of Exchange Offer For 7.500% Senior Notes Due 2020
Louisiana Pacific Corp announced the closing of its exchange offer pursuant to which it offered to exchange up to $350,000,000 in aggregate principal amount of its 7.500% Senior Notes due 2020 (the New Notes), which have been registered under the Securities Act of 1933 (the Act), for an equal aggregate principal amount of its unregistered outstanding 7.500% Senior Notes due 2020 (the Old Notes). The Old Notes were issued on May 21, 2012 in a transaction exempt from registration under the Act. The terms of the New Notes are substantially identical to the terms of the Old Notes, except that the New Notes have been registered under the Act, are not subject to restrictions on transfer, and do not entitle their holders to registration rights or special interest. As of 5:00 p.m., New York City time, on August 7, 2012, which was the expiration time of the exchange offer, $350,000,000 in principal amount of the outstanding Old Notes, representing 100% of the outstanding principal amount of the Old Notes, had been validly tendered in exchange for an equal aggregate principal amount of the New Notes. Full Article
Louisiana Pacific Corp Completes Debt Offering
Louisiana Pacific Corp 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 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. Full Article
Louisiana Pacific Corp Announces Pricing Of Debt Offering
Louisiana Pacific Corp announced that it has priced its private offering of $350 million aggregate principal amount of Senior Notes due 2020. The Notes will bear interest at an annual rate of 7.5%. LP expects to close the offering of the Notes on May 21, 2012, subject to the satisfaction of customary closing conditions. LP intends to use the net proceeds of the offering of the Notes to repurchase, redeem or otherwise retire all of its outstanding 13% Senior Secured Notes due 2017, to pay related transaction costs and for other general corporate purposes. The consummation of the offering of the Notes will satisfy 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. Full Article
Louisiana Pacific Corp Announces Launch Of Debt Offering
Louisiana Pacific Corp announced that it has commenced an offering of $300 million in aggregate principal amount of Senior Notes due 2020 (the Notes). LP intends to use the net proceeds from the offering to repurchase, redeem or otherwise retire all of its outstanding 13% Senior Secured Notes due 2017 (the 2017 Notes), to pay related transaction costs and for other general corporate purposes. Full Article
Louisiana Pacific Corp Names Curt Stevens As New CEO
Louisiana Pacific Corp announced that its board of directors has appointed Curt Stevens to succeed Rick Frost as LP Chief Executive Officer (CEO) effective May 4, 2012. Frost, who has served as CEO since 2004, will retire from LP May 31, 2012. During the period from May 4 through May 31, Frost will remain with the Company to aid in the transition. Full Article
Louisiana Pacific Corp Announces Management Change
Louisiana-Pacific Corp. announced that Executive Vice President Curt Stevens, LP’s chief financial officer (CFO) since 1997, will move into the interim position of executive vice president and chief operating officer (COO), newly created by the LP board of directors for the purpose of implementing its orderly management succession plan. Sallie B. Bailey will join LP as executive vice president and chief financial officer. Full Article

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