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Boise Cascade buys back $11.9 million of 7 1/8% notes in three months ended March 31
By Jennifer Chiou
New York, May 7 - Boise Cascade Holdings, LLC repurchased $11.9 million of 7 1/8% senior subordinated notes during the three months ended March 31, according to a 10-K filing with the Securities and Exchange Commission.
The company recorded a $6 million gain on the repurchase.
Boise Cascade, LLC issued $400 million of the notes due 2014 in October 2004. Proceeds from the notes were used to fund a portion of the purchase price for the Forest Products Acquisition.
In July 2005, the company exchanged all of the notes for registered securities with identical terms.
If the company sells specific assets or experiences specific kinds of changes in control, it must offer to purchase the notes.
As already reported, in connection with the sale, the company repurchased $160 million of the notes at par on April 15, 2008.
The issuer is a Boise, Idaho-based paper and wood products manufacturing and building materials distribution business.
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