Georgia-Pacific Announces Extension of Debt Tender Offers and Change in Price Determination Date
17 December 2005 - 12:51AM
PR Newswire (US)
ATLANTA, Dec. 16 /PRNewswire-FirstCall/ -- Georgia-Pacific Corp.
(NYSE:GP) today announced that it has extended its debt tender
offers, which it launched on Nov. 17, 2005. The debt tender offers,
which previously expired at midnight EST on Dec. 30, 2005, will now
expire at midnight EST on Jan. 4, 2006. Georgia-Pacific also
announced that it has changed the date that the price will be
determined for the debt tender offers, from 2 p.m. EST on Dec. 16,
2005, to 2 p.m. EST on Dec. 20, 2005. (Logo:
http://www.newscom.com/cgi-bin/prnh/20030425/PAPLOGO ) CUSIP/
Aggregate Title of Aggregate Percentage ISIN Number Outstanding
Security Principal Tendered Principal Amount Amount Tendered
373298-CB-2, $350,000,000 7.375% $347,410,000 99.26 % 373298-CA-4 /
Senior USU37339AC94 Notes due 2008 373298-BX-5 $700,000,000 8.875%
$697,345,000 99.62 % Senior Notes due 2010 373298-BZ-0,
$775,000,000 9.375% $766,423,000 98.89 % 373298-BY-3 / Senior
USU37339AB12 Notes due 2013 373298-CD-8, $150,000,000 8.00% Senior
$77,013,000 51.34 % 373298-CC-0 / Notes due USU37339AD77 2014
347471-AR-5 $300,000,000 6.875% $279,431,000 93.14 % Senior Notes
due 2007 347471-AN-4 $30,715,000 9.25% $29,953,000 97.52 %
Debentures due 2021 347471-AP-9 $88,000,000 7.75% $83,525,000 94.91
% Debentures due 2023 The dealer managers for the debt tender
offers are Citigroup Corporate and Investment Banking, and Goldman,
Sachs & Co. Persons with questions regarding the debt tender
offers should contact Citigroup Corporate and Investment Banking at
(800) 558-3745 (U.S. toll free), attention: Liability Management
Group or Goldman, Sachs & Co. at (800) 828-3182 (U.S. toll
free) or (212) 357-3019, attention: Credit Liability Management.
Requests for documents should be directed to Global Bondholder
Services Corporation, the information agent, at (212) 430-3774 (for
banks and brokers) or (866) 952-2200 (U.S. toll free). The
extension of the debt tender offers has no effect on the offer by
Koch Forest Products Inc., an indirect wholly owned subsidiary of
Koch Industries, Inc., to purchase all of the outstanding shares of
common stock of Georgia- Pacific at a price of $48 per share, which
is scheduled to expire on Monday, Dec. 19, 2005. This release is
neither an offer to purchase nor a solicitation or an offer to sell
any securities. The debt tender offers are made only by the Offer
to Purchase and Consent Solicitation Statement dated Nov. 17, 2005.
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
suppliers of building products to lumber and building materials
dealers and large do-it-yourself warehouse retailers. For more
information, visit http://www.gp.com/ FORWARD-LOOKING STATEMENTS:
Any statements made regarding the proposed transaction between Koch
Industries, Inc. and Georgia-Pacific Corporation, the expected
results of the tender offers and consent solicitations and any
other statements contained in this news release that are not purely
historical fact are forward-looking statements that are based on
management's beliefs, certain assumptions and current expectations.
These statements may be identified by their use of forward-looking
terminology such as the words "expects," "projects," "anticipates,"
"intends" and other similar words. Such forward- looking statements
involve risks and uncertainties that could cause actual results to
differ materially from those projected. These risks and
uncertainties include, but are not limited to, general economic,
business and market conditions and the satisfaction of the
conditions to closing of the proposed transaction and the tender
offers and consent solicitations. For a more complete discussion of
certain of the risks and uncertainties that could cause actual
results to differ from those contained in the forward-looking
statements, please see the discussion of risks and uncertainties in
the Georgia-Pacific 2004 10-K and other SEC filings. The
forward-looking statements contained in this news release are made
as of the date hereof, and we do not undertake any obligation to
update any forward-looking statements, whether as a result of
future events, new information or otherwise.
http://www.newscom.com/cgi-bin/prnh/20030425/PAPLOGO
http://photoarchive.ap.org/ DATASOURCE: Georgia-Pacific Corp.
CONTACT: Sheila Weidman, +1-404-652-6322, or Robin Keegan,
+1-404-652-4713, both of Georgia-Pacific Corp. Web site:
http://www.gp.com/
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