Weyerhaeuser to offer two series of notes via five bookrunners

By William Gullotti

Buffalo, N.Y., Feb. 23 – Weyerhaeuser Co. plans to offer two series of dollar-denominated notes via five bookrunners, according to a 424B2 filed with the Securities and Exchange Commission.

Both series of notes feature a make-whole call and then a par call.

Noteholders of either series will be able to exercise a change-of-control put.

BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC are joint bookrunning managers for the offering.

The trustee is Bank of New York Mellon Trust Co., NA.

Legal counsel on the validity of the notes was provided to the company by Cravath, Swaine & Moore LLP and by Jose Quintana as in-house counsel. Additionally, Covington & Burling LLP also provided the company with legal counsel regarding the bond offering. Counsel to the underwriters is provided by Davis Polk & Wardwell LLP.

Proceeds will be used to fund the company’s concurrent $1 billion cash tender offer for its 7.125% debentures due July 15, 2023, 8.5% debentures due Jan. 15, 2025, 7.95% debentures due March 15, 2025, 7.35% debentures due July 1, 2026, 7.85% debentures due July 1, 2026, 6.95% debentures due Oct. 1, 2027, 4% notes due Nov. 15, 2029, 4% notes due April 15, 2030, 7.375% debentures due March 15, 2032 and 6.875% debentures due Dec. 15, 2033.

Weyerhaeuser is a timber company based in Seattle, Wash.

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