Boise Cascade starts roadshow Thursday for $500 million notes in two parts

By Paul A. Harris

St. Louis, Oct. 7 - Boise Cascade Corp. begins the roadshow Thursday for a two-part $500 million offering of senior unsecured notes (Ba2/BB), according to an informed source.

The deal is expected to price on Oct. 16.

The Idaho-based office and paper products firm intends to price a bullet tranche maturing in 2010 that will carry a Treasuries plus 50 basis points make-whole call. Boise Cascade also plans to sell notes maturing in 2013 that will be callable with a Treasuries plus 50 basis points make-whole call during the first five years and after that at a premium.

Goldman Sachs & Co. is running the books for the off-the-shelf deal.

Boise Cascade will use proceeds to repay debt under its credit facility, to help fund its acquisition of OfficeMax, Inc. and for general corporate purposes.

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