News Room
Weyerhaeuser Announces Reference Yields and Full Tender Offer Consideration for Maximum Tender Offers
PRNewswire-FirstCall
FEDERAL WAY, Wash.
Jun 4, 2007
Weyerhaeuser Company (NYSE: WY) today announced the applicable reference yields and Full Tender Offer Consideration for each series of Securities to be purchased pursuant to its previously announced Maximum Tender Offers.
(Logo: http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-a) (Logo: http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-b)
The reference yields were determined today at 2 p.m. New York City time. The Full Tender Offer Consideration for the Securities subject to the Maximum Tender Offers is based on the applicable reference yield plus the fixed spread as set forth in the table below. All payments for securities purchased in the Maximum Offers will include accrued and unpaid interest on the principal amount of securities tendered up to, but not including, the Settlement Date for the Offers, which is currently expected to be June 7, 2007.
Offer for Securities Listed Below: Maximum Tender Offers
Title of Security Reference Fixed Spread Full Tender Accrued
Yield (basis points) Offer Interest
Consideration per $1,000
per $1,000 Principal
Principal Amount of
Amount of Securities
Securities
7.50% Debentures
due March 1, 2013 4.935% 108 $1,070.98 $20.00
7.95% Debentures
due March 15, 2025 5.042% 205 $1,085.75 $18.11
7.85% Debentures
due July 1, 2026 5.042% 205 $1.078.50 $34.02
5.95% Debentures
due November 1, 2008 4.970% 63 $1.004.58 $5.95
6.95% Debentures
due August 1, 2017 4.935% 140 $1,045.42 $24.33
The Maximum Tender Offers are scheduled to expire at midnight, New York City time, on June 6, 2007, unless extended.
The terms and conditions of the Offers, including the conditions to Weyerhaeuser's obligation to accept any securities tendered and to pay the applicable Full Tender Offer Consideration, plus accrued and unpaid interest, are set forth in the Offer to Purchase dated May 9, 2007. Each tender offer is conditioned upon the satisfaction of certain conditions described in the Offer to Purchase.
J.P. Morgan Securities Inc. and Banc of America Securities LLC are the dealer managers for the offers. Morgan Stanley & Co. Inc. and Citigroup Global Markets, Inc. are the co-dealer managers for the offers. Global Bondholder Services Corporation is the Depositary and Information Agent. This news release is neither an offer to purchase nor a solicitation of an offer to sell the securities. The offers were made only by the Offer to Purchase, and the information in this news release is qualified by reference to the Offer to Purchase. Persons with questions regarding the offers should contact J.P. Morgan Securities Inc. toll free at (866) 834-4666 or collect at (212) 834- 4077, Attn. Liability Management Group or Banc of America Securities LLC toll free at (866) 475-9886 or collect at (704) 388-4603, Attn. Liability Management Group. Requests for documents should be directed to Global Bondholder Services Corporation toll free at (866) 804-2200 or collect at (212) 430-3774.
Weyerhaeuser Company, one of the world's largest forest products companies, was incorporated in 1900. In 2006, sales were $21.9 billion. It has offices or operations in 18 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/.
Media - Bruce Amundson (253) 924-3047
Analysts - Kathryn McAuley (253) 924-2058
First Call Analyst:
FCMN Contact:
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SOURCE: Weyerhaeuser Company
CONTACT: Media, Bruce Amundson, +1-253-924-3047, or Kathryn McAuley,
+1-253-924-2058, both of Weyerhaeuser Company
Web site: http://www.weyerhaeuser.com/