Millar Western gets tenders for $177.71 million of 7¾% notes so far

By Angela McDaniels

Tacoma, Wash., April 7 - Millar Western Forest Products Ltd. had received tenders for $177,706,000 principal amount of its $190 million 7¾% senior notes due 2013 as of 5 p.m. ET on April 6, which was the early tender date in a tender offer that began March 24.

The company plans to exercise its early settlement option on April 11, subject to the settlement of its $210 million issue of 8½% 10-year notes.

The company will pay $1,015.42 for each $1,000 principal amount of 7¾% notes, which includes an early tender fee of $15.42 for each note tendered by the early tender date.

Holders also will receive accrued interest up to but excluding the applicable settlement date.

The tender offer will end at midnight ET on April 20.

Goldman Sachs & Co. (800 828-3182 or collect at 212 357-4692) is the dealer manager. Global Bondholder Services Corp. (866 470-3800) is the information agent and depositary.

Edmonton, Alta.-based Millar Western produces and markets hardwood and softwood bleached pulp and softwood lumber.

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