USG to redeem 7 7/8% notes at 103.938 and 5 7/8% notes at 104.406

By Angela McDaniels

Tacoma, Wash., Nov. 1 – USG Corp. will redeem all $250 million of its 7 7/8% senior notes due 2020 and all $350 million of its 5 7/8% senior notes due 2021 on Dec. 2, according to an 8-K filing with the Securities and Exchange Commission.

The redemption price is $1,039.38 per $1,000 principal amount of 7 7/8% notes and $1,044.06 per $1,000 principal amount of 5 7/8% notes plus accrued interest up to but excluding the redemption date.

The company is redeeming the notes in connection with the completion of the sale of its former subsidiary L&W Supply Corp. to American Builders & Contractors Supply Co., Inc. for $670 million.

USG is a Chicago-based manufacturer and distributor of building products.

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