SEATTLE, Nov 08, 2010 (BUSINESS WIRE) --
Plum Creek Timberlands, L.P., a wholly owned subsidiary and operating partnership of Plum Creek Timber Company, Inc. (NYSE:PCL), announced today the pricing of its public offering of $575 million aggregate principal amount of senior unsecured notes due 2021. The notes will bear interest at 4.70% per year and mature on March 15, 2021. The offering is expected to close on November 15, 2010. Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBS Securities Inc. acted as joint book-running managers of the offering.
The notes will be senior unsecured obligations of Plum Creek Timberlands, L.P. and will be fully and unconditionally guaranteed by Plum Creek Timber Company, Inc. Plum Creek Timberlands, L.P. intends to use the net proceeds from the offering primarily to repay a portion of certain outstanding indebtedness.
The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. A prospectus supplement and accompanying prospectus describing the terms of this offering will be filed with the SEC. Copies of the prospectus supplement and the accompanying prospectus may be obtained, at no cost, by viewing the filings of Plum Creek Timberlands, L.P. and Plum Creek Timber Company, Inc. on the SEC website at www.sec.gov. Alternatively, copies of the prospectus supplement and accompanying prospectus for the offering can be obtained from Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing firstname.lastname@example.org; Merrill Lynch, Pierce, Fenner & Smith Incorporated, 100 West 33rd Street, 3rd Floor, New York, NY 10001, Attention: Prospectus Department, telephone: 1-800-294-1322 or by e-mailing email@example.com; or RBS Securities Inc., toll-free: 1-866-884-2071.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Plum Creek is the largest and most geographically diverse private landowner in the nation with approximately 7 million acres of timberlands in major timber producing regions of the United States and wood products manufacturing facilities in the Northwest.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Litigation Reform Act of 1995 as amended.Some of these forward-looking statements can be identified by the use of forward-looking words such as "believes," "expects," "may," "will," "should," "seek," "approximately," "intends," "plans," "estimates," or "anticipates," or the negative of those words or other comparable terminology. The accuracy of such statements is subject to a number of risks, uncertainties and assumptions. These and other risks, uncertainties and assumptions are detailed from time to time in our filings with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, and the Securities Act of 1933, as amended. It is likely that if one or more of the risks materializes, or if one or more assumptions prove to be incorrect, the current expectations of Plum Creek and its management will not be realized. Forward-looking statements are not guarantees of performance, and speak only as of the date made, and neither Plum Creek nor its management undertakes any obligation to update or revise any forward-looking statements.
SOURCE: Plum Creek Timberlands, L.P.
Plum Creek Timber Company, Inc.
John Hobbs, 1-800-858-5347
Kathy Budinick, 1-888-467-3751