Ainsworth Lumber - Completion of Senior Note Financing.CO (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , VSE See DOS/VSE. VSE - Virtual Storage Extended : ANS (ANS Communications, Inc, Purchase, NY) An ISP, Internet backbone and provider of private data network services, founded in 1990 as Advanced Network & Services, Inc., by IBM, MCI and Merit (consortium of Michigan universities). ) Ainsworth Lumber Co. Ltd. announces that it has completed a placement of US $55,000,000 of Series C Senior Notes of the Company. The Series C Senior Notes are unsecured and have a ten-year term with a weighted average life of 8 years. Interest will be payable on the Series C Senior Notes in semi-annual instalments at the rate of 7.80 per cent per annum. The proceeds of the Series C Senior Notes will be used to retire bank financing for the Company's Grande Prairie OSB OSB abbr. Order of Saint Benedict and Value-Added Facility and to assist in financing completion of such facility. "This unsecured Senior Note financing will assist Ainsworth Lumber in meeting the costs to complete the Grande Prairie facility on very favourable terms and conditions. We are pleased with the level of confidence in our Company being demonstrated by Note purchasers" said Ainsworth Lumber's Chief Financial Officer, Catherine Ainsworth. Construction of the Grande Prairie OSB facility is nearing its final phase with first production anticipated in early December 1995. The facility will have an annual rated production capacity of 540 million square feet (3/8 inch basis) of oriented strandboard and an annual rated production capacity of wood I-Beams and finger-joined lumber of 25 million lineal That which comes in a line, particularly a direct line, as from parent to child or grandparent to grandchild. LINEAL. That which comes in a line. Lineal consanguinity is that which subsists between persons, one of whom is descended in a direct line from the other. feet and 50 million board feet, respectively. Ainsworth Lumber has operated in British Columbia for more than forty years. In addition to the Grande Prairie facility, Ainsworth operates a sawmill and oriented strand board Oriented strand board, or OSB, or waferboard, or Sterling board (UK), is an engineered wood product formed by layering strands (flakes) of wood in specific orientations. plant at 100 Mile House, a sawmill near Clinton, a sawmill and veneer plant at Lilloet, a specialty plywood plant at Savona and a value-added plant at Abbotsford, B.C. CONTACT: Ainsworth Lumber Catherine Ainsworth, 604/661-3223 (Vancouver, B.C.) or Kevin Ainsworth, 604/395-6233 (100 Mile House, B.C.) |
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