Norbord intends to redeem $240 million 6¼% notes due 2015 on Dec. 27

By Tali David

Minneapolis, Nov. 26 - Norbord Inc. plans to redeem the full $240 million of its 6¼% senior notes due 2015 and 6¼% senior secured notes due 2015, according to a press release.

The notes will be redeemed at a price of roughly $1,075.05 per $1,000 principal amount on Dec. 27.

The redemption will be funded with the proceeds of $240 million of 5 3/8% notes due 2020.

Norbord is a Toronto-based manufacturer of wood panels.

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