New Issue: Tembec Industries $100 million add-on yields 8 5/8%

By Paul A. Harris

St. Louis, March 7 - Tembec Industries, Inc. priced a quick-to-market $100 million add-on to its 8 5/8% senior notes due June 30, 2009 at par Friday to yield 8 5/8%, according to a market source.

Price talk was 100 area.

Goldman Sachs & Co. was the bookrunner.

The Montreal forest products company will use proceeds from the Rule 144A for general corporate purposes.

Issuer:	Tembec Industries, Inc.
Amount:	$100 million
Security description:	Add-on to 8 5/8% senior notes due June 30, 2009
Bookrunner:	Goldman Sachs
Maturity:	June 30, 2009
Coupon:	8 5/8%
Price:	Par
Yield:	8 5/8%
Spread:	609 basis points
Call features:	Callable on June 30, 2004 at 104.313, 102.875, 101.438, par on June 30 2007 and thereafter
Settlement date:	March 14, 2003 with accrued interest
Ratings:	Moody's: Ba1
	Standard & Poor's BB+
Price talk:	100 area

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.