Riverside tenders for 7 7/8% notes

New York, Feb. 24 - Riverside Forest Products Ltd. said it has begun a cash tender offer for its $97.5 million of 7 7/8% senior notes due March 1, 2014.

The Kelowna, B.C., wood products manufacturer is also soliciting consents to amend the note indenture to eliminate substantially all of the covenants contained in the indenture and certain events of default.

Holders who tender and deliver consents by the consent deadline of 5 p.m. ET on March 8 will receive $1,170.19 per $1,000 principal amount, including a consent payment of $20.00 per $1,000 principal amount.

Holders who tender after the consent deadline but before the expiration date of 5 p.m. ET on March 23 will receive $1,150.19 per $1,000 principal amount.

The tender is subject to conditions including the receipt of the necessary consents to amend the note indenture.

RBC Capital Markets is dealer manager and solicitation agent (800 370-9558 or 212 703-2200). Global Bondholder Services Corp. is the information agent (866 873-6300).

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