Ainsworth Lumber Announces the Completion of its Tender Offers and Consent Solicitations for its 13.875% Senior Secured Notes and its 12 1/2% Senior Secured Notes.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--March 18, 2004 Ainsworth Lumber Co. Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :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") announced today that the tender offers and consent solicitations initiated on February 17, 2004, relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc Ainsworth's 13.875% Senior Secured Notes due July 15, 2007 (the "13.875% Notes") and its 12 1/2% Senior Secured Notes due July 15, 2007 (the "12 1/2% Notes", and together with the 13.875% Notes, the "Secured Notes"), have expired. As previously announced, Ainsworth accepted and paid for Secured Notes tendered prior to the February 27, 2004 consent payment deadline. Since that time, an additional US$125,000 total aggregate principal amount of 12 1/2% Notes has been tendered. Ainsworth has accepted and paid for these additional notes. The aggregate principal amount of Secured Notes outstanding prior to the commencement of the tender offers was US$89,085,000 aggregate principal amount of 13.875% Notes and US$184,600,000 aggregate principal amount of 12 1/2% Notes. A total of US$87,085,000 aggregate principal amount of 13.875% Notes and US$182,249,000 aggregate principal amount of 12 1/2% Notes have been tendered and accepted. This press release is not an offer to purchase, a solicitation of an offer to purchase, or a solicitation of an offer to sell securities, with respect to any Notes. About Ainsworth Ainsworth Lumber Co. Ltd. has operated as a forest products company in Western Canada
Western Canada, commonly referred to as the West for over 50 years. The company's facilities have a total annual capacity of approximately 1.5 billion square feet - 3/8" of 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. (OSB OSB abbr. Order of Saint Benedict ), 155 million square feet - 3/8" of specialty overlaid plywood, and 55 million board feet of lumber. In Alberta, the company's operations include an OSB plant at Grande Prairie Grande Prairie (Fr. gräNd prâ'rē`), city (1991 pop. 28,271), W Alta., Canada, NW of Edmonton. It is the chief business center for the Peace River valley farming area. and a one-half interest in an OSB plant at High Level. In B.C., the company's facilities include an OSB plant at 100 Mile House, a veneer plant at Lillooet, a plywood plant at Savona and finger-joined lumber plant at Abbotsford. |
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