Weyerhaeuser Company (NYSE: WY) announced today the results of its previously announced tender offer for four series of Notes. The offers commenced on Oct. 22, 2004, and expired at 12:00 Midnight New York City time, on Nov. 19, 2004. At settlement (scheduled for today), the Company will pay approximately $754 million in total (including interest) for all Notes purchased. The Company expects to record a pre-tax charge to earnings of approximately $55 million in connection with the offer.
Weyerhaeuser Company, one of the world's largest integrated forest products companies, was incorporated in 1900. In 2003, sales were $19.9 billion. It has offices or operations in 19 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction, development and related activities. Additional information about Weyerhaeuser's businesses, products and practices is available at http://www.weyerhaeuser.com/.
The following table provides the aggregate principal amount tendered and accepted for each series:
CUSIP Tendered and Prorate
Title of Securities Number Accepted Percentage
6.125% Notes due
March 15, 2007 962166BM5 /
962166BD5 $400,140,000 55.917%
5.950% Notes due
November 1, 2008 962166BA1 $225,127,000 46.690%
December 15, 2009 962166BS2 $75,046,000 33.150%
Because Weyerhaeuser's Maximum Tender Amount of $700 million was exceeded by tenders of the three series of Notes referenced above on or prior to the Early Tender Date, the Company will not purchase any 6.000% Notes due August 1, 2006 and its tender offer for such Notes has been cancelled in accordance with the terms of the Company's Offer to Purchase.
Media - Bruce Amundson (253) 924-3047
Analysts - Kathryn McAuley (253) 924-2058
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SOURCE: Weyerhaeuser Company
CONTACT: Media, Bruce Amundson, +1-253-924-3047, or Analysts, Kathryn
McAuley, +1-253-924-2058, both of Weyerhaeuser Company
Web site: http://www.weyerhaeuser.com/