Newsroom
Weyerhaeuser Announces Results of Maximum Tender Offers
PRNewswire-FirstCall
FEDERAL WAY, Wash.
Jun 7, 2007
Weyerhaeuser Company (NYSE: WY) announced the expiration, as of 12:00 midnight, New York City time on June 6, 2007, of its previously announced Maximum Tender Offers for up to $519,483,000 in aggregate principal amount of securities. According to the terms set forth in the Offer to Purchase dated May 9, 2007, $595,211,000 in aggregate principal amount of securities were validly tendered and accepted for purchase, resulting in a Final Proration Factor of approximately 20.27% for the 6.95% Debentures due August 1, 2017.
(Logo: http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-a) (Logo: http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-b)
As previously announced, $305,517,000 in aggregate principal amount of securities in the Any and All Offers, which expired on May 16, 2007, were validly tendered and accepted for purchase on May 17, 2007. The table below more fully describes results of the Maximum Tender Offers:
Principal Principal Percentage Amount Amount of Acceptance Title of Security Outstanding Tendered Outstanding Priority (US$) (US$) Amount Level Tendered Offer for Securities Listed Below: Maximum Tender Offers 7.50% Debentures due $250,000,000 $94,389,000 37.76 % 1 March 1, 2013 7.95% Debentures due $250,000,000 $113,967,000 45.59 % 2 March 15, 2025 7.85% Debentures due $200,000,000 $100,101,000 50.05 % 3 July 1, 2026 5.95% Debentures due $524,873,000 $191,810,000 36.54 % 4 November 1, 2008 6.95% Debentures due $300,000,000 $94,944,000 31.65 % 5 August 1, 2017
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. Each Offer was conditioned upon the satisfaction of certain conditions described in the Offer to Purchase.
J.P. Morgan Securities Inc. and Banc of America Securities LLC were the dealer managers for the Offers. Morgan Stanley & Co. Inc. and Citigroup Global Markets, Inc. were the co-dealer managers for the Offers. Global Bondholder Services Corporation was 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) 386-4603, Attn. Liability Management Group.
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/.
For more information contact: Media - - Bruce Amundson (253) 924-3047 Analysts - - Kathryn McAuley (253) 924-2058
First Call Analyst:
FCMN Contact:
http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-b
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk photodesk@prnewswire.com
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/