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Prospect News home > News index > List of issuers W > Headlines for Weyerhaeuser Co. > News item
Published on 6/15/2016 in the Prospect News Bank Loan Daily, Prospect News Convertibles Daily, Prospect News Investment Grade Daily and Prospect News Liability Management Daily.

Weyerhaeuser to use asset sale proceeds to repay debt

By Angela McDaniels

Tacoma, Wash., June 15 – Weyerhaeuser Co. expects to use proceeds from an asset sale to repay debt, according to a company news release.

The company agreed to sell its liquid packaging board business to Nippon Paper Industries Co., Ltd. for $285 million and said it will use a “substantial portion” of the estimated $225 million of net proceeds to repay debt.

The transaction is expected to close in the third quarter.

Weyerhaeuser is based in Federal Way, Wash., and owns timberlands.


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