Date Closed

June 15, 2012

Lead Office

Toronto

Value

240.00 Million USD

On June 15, 2012 Norbord Inc. completed an offering by way of private placement of US$240 million aggregate principle amount of 6.25% senior notes due June 15, 2015. The offering was comprised of two tranches. The first tranche consisted of US$165 million of senior secured notes that rank and are secured on a pari passu basis with the Company’s existing senior secured notes due 2017 and committed revolving bank lines. 

This tranche was underwritten by a syndicate of underwriters led by CIBC World Markets Inc., Credit Suisse Securities (Canada) Inc. and Merrill Lynch (Canada) Inc. (as joint bookrunners) and included Scotia Capital Inc., TD Securities Inc., Comerica Securities, Inc., BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc. The second tranche consisted of US$75 million of senior unsecured notes and was issued by the Company directly to a U.S. institutional investor.

The net proceeds from the offering were used to refinance the Company’s existing US$240 million 7.25% debentures due July 1, 2012.

Norbord, headquartered in Toronto, Ontario, is an international producer of wood-based panels.

McCarthy Tétrault LLP represented Norbord, with a team led by Joel Scoler.