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Pope & Talbot Offering Senior Notes to Pay off Bank Debt

PORTLAND-With its stock down more than 8% from a 52-week high achieved on July 8, the publicly traded timber company says it plans to offer up to $50 million of senior notes due 2013 on terms substantially identical to its existing 8 3/8% Debentures due 2013.

By Brian K. Miller | Updated on July 15, 2002

PORTLAND-With plans to use the proceeds to pay off bank debt, Pope & Talbot says it will offer up to $50 million of senior notes due 2013 on terms substantially identical to its existing 8 3/8% Debentures due 2013.

Pope & Talbot, Inc. is engaged principally in the pulp and wood products businesses. Approximately 80% of Pope & Talbot’s lumber capacity is located in British Columbia, Canada.

The notes will be sold through a Rule 144A offering to qualified institutional buyers in the United States and to non-U.S. persons outside the United States. The offering is expected to close in late July.

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