West Fraser Timber’s Norbord unit calls 5¾% notes due 2027

By Rebecca Melvin

Concord, N.H., April 7 – West Fraser Timber Co. Ltd. subsidiary Norbord Inc. will redeem all of its approximately $349.4 million outstanding of 5¾% notes due 2027 on May 6, according to a company release.

The notes will be purchased for par plus a make-whole premium based on a July 15, 2022 early call date together with accrued and unpaid interest. The impact of this transaction is not expected to be material to West Fraser’s earnings.

A notice of redemption was sent to holders on April 6.

“Redemption of these notes, which we will fund with cash on hand, will reduce our indebtedness and is one step in the process of optimizing our capital structure following the acquisition of Norbord,” West Fraser president and chief executive officer Ray Ferris stated in the release.

West Fraser is a Vancouver, B.C.-based diversified wood products company.

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