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Ainsworth Lumber to offer new bonds in early November via Bank of America Merrill Lynch
By Paul A. Harris
Portland, Ore., Oct. 29 - At least a portion of an announced C$350 million of new debt from Ainsworth Lumber Co. Ltd. is expected to come to market, in the form of bonds, before mid-November, a high-yield portfolio manager said on Monday.
Bank of America Merrill Lynch is expected to lead the bond deal, the source added.
As reported, proceeds, along with proceeds from the issuance of common shares, will be used to repay the company's senior secured term loan due 2014 and to refinance its 11% senior notes due July 2015.
Ainsworth is a Vancouver, B.C.-based manufacturer of engineered wood products.
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