Louisiana-Pacific to exercise equity clawback option for 13% notes

By Angela McDaniels

Tacoma, Wash., Sept. 21 - Louisiana-Pacific Corp. plans to retire up to 35% of its $375 million of 13% senior secured notes due 2017, according to a company news release.

The notes were issued in March. The company can buy back up to 35% of the notes at 113 under a three-year equity clawback option.

The repurchase will be funded with some of the proceeds from a public offering of 18 million shares of common stock. There will be a greenshoe for 2.7 million additional shares.

Louisiana-Pacific manufactures engineered wood building materials and is based in Nashville.

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