Carter Holt Harvey receives tenders for 98% of 8 3/8% debentures, 95% of 9½% debentures

By Laura Lutz

Des Moines, Aug. 9 - Carter Holt Harvey Ltd. announced that it received tenders and consents for 98% of its outstanding $150 million of 8 3/8% debentures due 2015 and 95% of its outstanding $150 million of 9½% debentures due 2014 before the consent deadline on Aug. 8.

The consents will allow the company to amend the note indentures, eliminating the principal restrictive covenants, certain events of default and other provisions.

The company said it will pay par plus accrued interest in the offer, which includes a $30.00 per $1,000 principal amount consent payment for those who tendered by the early deadline.

The tender offer expires at 5 p.m. ET on Aug. 18. The tender offer and consent solicitation were announced July 21.

Credit Suisse Securities (USA) LLC is the dealer manager and solicitation agent (call collect 212 325-7596 or 800 820-1653). The tender agent is D.F. King & Co., Inc. (800 714-3312 or call collect 212 269-5550).

Carter Holt Harvey is an Auckland, New Zealand-based forest products company.

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