Georgia-Pacific to Offer to Purchase $2.6 Billion of Notes and Debentures
14 November 2005 - 8:31AM
PR Newswire (US)
ATLANTA, Nov. 13 /PRNewswire-FirstCall/ -- Georgia-Pacific Corp.
(NYSE:GP) today announced that the company will make a tender offer
to purchase approximately $2.6 billion of debt securities issued by
Georgia-Pacific and its Fort James subsidiary. The Georgia-Pacific
debt issuances subject to the tender offer will be: 7.375% Senior
Notes due 2008 8.000% Senior Notes due 2014 8.875% Senior Notes due
2010 9.375% Senior Notes due 2013 The Fort James debt issuances
subject to the tender offer will be: 6.875% Senior Notes due 2007
9.250% Debentures due 2021 7.750% Notes due 2023 Georgia-Pacific
also will be soliciting consents from the holders of the securities
to eliminate the principal restrictive covenants in the indentures
governing the debt securities. Georgia-Pacific will make the offer
to purchase the debt in connection with today's announced
acquisition of Georgia-Pacific by Koch Forest Products, Inc., a
wholly owned subsidiary of Koch Industries, Inc. The company
expects to launch the offer to purchase the notes and debentures no
later than Nov. 18. Consummation of the offers is subject to
certain conditions, including completion of the associated merger
following consummation of Koch's all-cash tender offer for shares
of Georgia-Pacific common stock. Koch will provide the funding to
pay for all bonds tendered. The dealer managers for the debt tender
will be Citigroup Global Markets Inc. and Goldman, Sachs & Co.
Headquartered at Atlanta, Georgia-Pacific is one of the world's
leading manufacturers and marketers of tissue, packaging, paper,
building products and related chemicals. With 2004 annual sales of
approximately $20 billion, the company employs 55,000 people at
more than 300 locations in North America and Europe. Its familiar
consumer tissue brands include Quilted Northern(R), Angel Soft(R),
Brawny(R), Sparkle(R), Soft 'n Gentle(R), Mardi Gras(R), Vanity
Fair(R) and Lotus(R), as well as the Dixie(R) brand of disposable
cups, plates and cutlery. Georgia-Pacific's building products
manufacturing business has long been among the nation's leading
supplier of building products to lumber and building materials
dealers and large do-it-yourself warehouse retailers. For more
information, visit http://www.gp.com/ This announcement is neither
an offer to purchase nor a solicitation of an offer to sell any
securities. The tender offer for the outstanding debt securities
described in this announcement has not commenced. Any offers to
purchase or solicitation of offers to sell will be made only
pursuant to an offer to purchase and consent solicitation statement
that will be available upon commencement of the tender offer. The
offer to purchase and consent solicitation statement will contain
important information and should be read carefully before any
decision is made with respect to the tender offer. Those materials
will be made available to holders of the debt securities upon the
commencement of the tender offer by contacting the information
agent or the dealer managers for the tender offer, at their numbers
listed on the offer to purchase and consent solicitation statement.
DATASOURCE: Georgia-Pacific Corp. CONTACT: Sheila Weidman,
+1-404-652-6322, or Robin Keegan, +1-404-652-4713, Investors,
+1-404-652-5555 Web site: http://www.gp.com/
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