Millar Western Forest Products tenders for $190 million 7¾% notes

By Susanna Moon

Chicago, March 24 - Millar Western Forest Products Ltd. said it began a cash tender offer for its $190 million principal amount of 7¾% senior notes due 2013.

The company will pay $1,015.42 for each $1,000 principal amount of notes tendered by 5 p.m. ET on April 6, the early tender date.

The total payment includes an early tender fee of $15.42 per $1,000 principal amount.

Holders also will receive accrued interest up to but excluding the settlement date.

The tender offer will end at midnight ET on April 20.

Tendered notes may be withdrawn before the early tender deadline.

Millar Western may opt to settle early tenders on April 11.

Goldman Sachs & Co. (800 828-3182 or collect at 212 357-4692) is dealer manager. Global Bondholder Services Corp. (866 470-3800) is the information agent and depositary.

The company said on March 24 that it planned to sell $200 million senior notes due 2021 to fund the offer.

Privately held Alberta-based Millar Western produces and markets hardwood and softwood bleached pulp and softwood lumber.

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