Deltic Timber to prepay $25 million of 6.01% notes

By Jennifer Chiou

New York, Oct. 31 - Deltic Timber Corp. noteholders representing $25 million of the company's $30 million of 6.01% senior notes accepted the company's offer to voluntarily prepay the notes, according to an 8-K filing with the Securities and Exchange Commission.

The company delivered notice on Wednesday to Metropolitan Life Insurance Co., MetLife Investors USA Insurance Co., New England Life Insurance Co., General American Life Insurance Co., MetLife Insurance Co. of Connecticut and Modern Woodmen of America.

As part of the notice, the company requested that the note purchasers waive any prepayment penalty or other requirement to pay any make-whole fees.

On Thursday, all but Modern Woodmen of America accepted the company's proposal.

As a result, $25 million of the $30 million notes will be paid in full and canceled.

The El Dorado, Ark.-based company specializes in natural resources.

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