SEATTLE--(BUSINESS WIRE)--April 25, 2006--Plum Creek Timberlands,L.P., a subsidiary of Plum Creek Timber Company, Inc. (NYSE:PCL) hasre-opened bonds of nominal $225 million due November 15, 2015. Thecoupon of the bond is 5.875 percent and the issue price is 96.686percent.
The bond carries a full guarantee from Plum Creek Timber Company.The net proceeds (without accrued interest) of approximately $216million will be used to pre-fund upcoming debt maturities. The seniornotes will be issued under Plum Creek Timberlands' shelf registrationstatement in the United States. The offering is expected to close onMay 2, 2006.
Banc of America Securities LLC was sole book-running manager onthe transaction. Copies of a prospectus relating to this offering maybe obtained from Bank of America, Prospectus Department, 100 W 33rdStreet, 3rd Floor, New York, NY 10001.
Plum Creek is the largest and most geographically diverse privatelandowner in the nation, with more than 8 million acres of timberlandsin major timber producing regions of the United States and 10 woodproducts manufacturing facilities in the Northwest.
This press release shall not constitute an offer to sell or asolicitation of an offer to buy, nor shall there be any sale of thenotes in any state or jurisdiction in which such offer, solicitationor sale is unlawful prior to registration or qualification under thesecurities laws of any such state or jurisdiction.
CONTACT: Plum Creek Timber Company, Inc.
Investors: John Hobbs, 800-858-5347
Media: Kathy Budinick, 206-467-3620
SOURCE: Plum Creek Timber Company, Inc.