Longview Fibre starts roadshow for $185 million seven-year notes Jan. 8

By Paul A. Harris

St. Louis, Mo., Dec. 19 - Longview Fibre Co. is planning to launch an offering of $185 million of senior subordinated notes due 2009 on Jan. 8, a syndicate source told Prospect News on Wednesday.

The deal is expected to price during the week of Jan. 14, according to the source. Ratings are expected Dec. 21.

Banc of America Securities is bookrunner, with co-managers Scotia Capital, Wells Fargo and US Bancorp Piper Jaffrey.

The seven-year notes will be non-callable for four years and have a make-whole call and will be sold under Rule 144A.

In addition to the note offering, Longview Fibre will also be obtaining a new three-year $250 million unsecured revolving credit facility.

Proceeds of the notes and initial borrowings on the bank facility will be used to refinance the Longview, Wash. forest, paper and packaging company's existing bank loans, pay off debt maturing in 2002 and provide working capital.

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