New Issue: Longview Fibre seven-year notes upsized to $215 million, yield 10 1/8%

By Paul A. Harris

St. Louis, Mo., Jan. 18 - Longview Fibre Co. upsized its offering of senior subordinated notes due Jan. 15, 2009 (B2/B+) to $215 million from $185 million at launch and priced them Friday at 99.379 to yield 10 1/8%, according to a syndicate source.

The syndicate official commented that the deal priced "in the middle" of the 10%-10¼% price talk.

"It was a very quality book," the official added. "It was definitely oversubscribed."

Banc of America Securities was the bookrunner on the Rule 144A deal. Co-managers included Scotia Capital, Wells Fargo, and US Bancorp Piper Jaffray.

Issuer:	Longview Fibre Co.
Amount:	$215 million (increased from $185 million)
Maturity:	Jan. 15, 2009
Type:	Senior subordinated notes
Manager:	Banc of America Securities
Coupon:	10%
Price:	99.379
Yield:	10 1/8%
Spread:	532 basis points over the 5½% Treasury of May, 2009
Call features:	Callable on Jan. 15, 2006 at 105, then at 102.50, declining to par on Jan. 15, 2008 and thereafter
Equity clawback:	Until Jan. 15, 2005 for 35% at 110
Settlement date:	Jan. 25 flat
Ratings:	Moody's: B2
	Standard & Poor's: B+
Cusip:	543213AA0

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