Georgia-Pacific calling 9½% 2022 debentures

New York, March 17 - Georgia-Pacific Corp. (Ba3/BB+) said that it is calling for redemption its $250 million of 9½% debentures due 2022. The company anticipates that the debentures will be redeemed on or about April 20.

Georgia-Pacific, an Atlanta-based paper and forest products company, issued the bonds in May 1992.

The company said it will use funds available under its revolving credit facility to redeem the debentures. It expects to record a second quarter 2004 pretax charge of some $12.5 million for call premiums and to write off deferred debt issuance costs.

The upcoming redemption of the 9½% debentures is the latest of several similar recent transactions. On Jan. 28, Georgia-Pacific called its $243 million of outstanding 9 7/8% debentures due 2021 for redemption on March 1. And on March 2, it called its $250 million of 9 5/8% debentures due 2022 for redemption on March 31.

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