Weyerhaeuser buys back $318M in debt offer

AP News
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Posted: Nov 25, 2009 1:41 PM

Lumber and wood products producer Weyerhaeuser Co. said Wednesday that $318.4 million in debt has been tendered in an offer capped at $500 million.

The Federal Way, Wash., company said it will pay $1,062.50 for each $1,000 principal amount of securities tendered before Dec. 9. The offer initially set the purchase price at between $1,030 and $1,062.50 per $1,000 principal amount.

The 6.75 percent notes are due March 15, 2012.

Shares of Weyerhaeuser rose 53 cents to $38.86 in afternoon trading.