Ainsworth Lumber to start roadshow Thursday for $450 million two-part bond offering

By Paul A. Harris

St. Louis, Sept. 13 - Ainsworth Lumber Co. Ltd. will begin a two-day roadshow Thursday for its $450 million two-tranche high-yield bond offering, according to market sources.

Pricing is expected to take place Friday.

The company plans to sell eight-year fixed-rate senior notes, which are non-callable for four years, and six-year floating-rate senior notes, which are non-callable for two years. Tranche sizes are yet to be determined.

Deutsche Bank Securities and Goldman Sachs & Co. will run the books for the Rule 144A offerings.

Proceeds and cash on hand will be used to finance the $457.5 million acquisition of Potlatch Corp.'s oriented strand board manufacturing and related facilities.

Ainsworth Lumber is a Vancouver, British Columbia, forest products company.

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