VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 16, 2013) - Ainsworth Lumber Co. Ltd. (TSX:ANS)(TSX:ANS.WT) ("Ainsworth" or the "Company") announced today that it has called for redemption US$35 million in principal amount of its 7.5% Senior Secured Notes due 2017 (the "Notes") pursuant to the terms of the indenture governing the Notes. The redemption represents 10% of the initial aggregate principal amount of the Notes.
The redemption date will be August 14, 2013 and the redemption price will be equal to 103% of the principal amount of the Notes redeemed, plus accrued and unpaid interest to, but excluding the redemption date.
This news release is for informational purposes and does not constitute a notice of redemption under the optional redemption provision of the Indenture, nor does it constitute an offer to sell or the solicitation of an offer to buy any securities of Ainsworth, or an offer to sell securities or a solicitation of an offer to buy securities in any state or jurisdiction where prohibited by law.
Additional information concerning the terms and conditions of the redemption is contained in the notice of redemption distributed to holders of the Notes.
Ainsworth Lumber Co. Ltd. is a leading manufacturer and marketer of oriented strand board ("OSB") with a focus on value-added specialty products for markets in North America and Asia. Ainsworth's four OSB manufacturing facilities, located in Alberta, British Columbia and Ontario, have a combined annual capacity of 2.5 billion square feet (3/8-inch basis) OSB. Ainsworth is a publicly traded company listed on the Toronto Stock Exchange under the symbols ANS and ANS.WT.