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Weyerhaeuser Announces Expiration of its Cash Tender Offer
Dec 10, 2009
FEDERAL WAY, Wash., December 10, 2009 — Weyerhaeuser Company (NYSE:WY) (the “Company”) announced today the final results of its tender offer (the “Offer”). The terms and conditions of the Offer are set forth in an Offer to Purchase dated Nov. 10, 2009 and accompanying Letter of Transmittal, as amended by the Company’s press release dated Nov. 25, 2009.
In the Offer, the Company offered to purchase for cash up to $500 million principal amount of its outstanding 6.750% Notes due 3/15/12 (the “Securities”) from each registered holder of Securities (a “Holder”). The Offer expired at midnight, New York City time, on Dec. 9, 2009. On Dec. 9, 2009, $364,225,000 principal amount (of a total outstanding principal amount of $1,433,122,000) of Securities had been validly tendered in connection with the Offer.
The Company has accepted $364,225,000 principal amount of the Securities at a price of $1,062.50 per $1,000 principal amount of the Securities.
The settlement date (the “Settlement Date”) for the Offer will be Dec. 10, 2009. In addition to any consideration received, Holders who tendered Securities will be paid any accrued and unpaid interest calculated up to, but not including, the Settlement Date.
BofA Merrill Lynch and Citigroup Global Markets Inc. were the lead dealer managers for the Offer. Deutsche Bank Securities Inc., J.P. Morgan Securities Inc., Morgan Stanley & Co. Incorporated and Goldman, Sachs & Co. were the co-dealer managers for the Offer. 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 Offer was 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 Offer should contact BofA Merrill Lynch toll free at (888) 292-0070 or collect at (646) 855-3401, Attn. Debt Advisory Services or Citigroup Global Markets Inc. toll free at (800) 558‑3745 or collect at (212) 723‑6106, Attn. Liability Management Desk. 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 2008, sales were $8 billion. It has offices or operations in 10 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 and development. Additional information about Weyerhaeuser's businesses, products and practices is available at http://www.weyerhaeuser.com.
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