Longview Fibre to sell $150 million 10-year notes

New York, Feb. 27 - Longview Fibre Co. said it plans to sell $150 million of senior notes due 2016.

Goldman, Sachs & Co. and Banc of America Securities LLC are joint bookrunners for the off-the-shelf sale. Pricing is expected in mid-March.

Proceeds, along with money raised from an offering of 10 million shares, will be used for the company's previously announced conversion to a real estate investment trust and refinancing.

Specifically, the Longview, Wash., timberlands and paper company will use proceeds to tender for its $215 million of senior subordinated notes; to fund the cash portion, currently estimated to be $72.0 million, of a special taxable distribution to shareholders as part of the its conversion to a REIT; and to pay an estimated $12.2 million of fees and expenses relating to the REIT conversion and tender and consent premiums and fees and expenses for the tender offer.

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