Millar Western announces pricing of senior secured note offering

Millar Western Forest Products Ltd.
June 14, 2018
By Millar Western Forest Products Ltd.
June 14, 2018 - Millar Western Forest Products Ltd. announced that it has entered into an underwriting agreement to issue and sell C$150 million principal amount of 9.50 per cent Senior Secured First Lien Notes due 2023 by way of a private placement offering. Subject to satisfaction of customary closing conditions, the offering is expected to close on June 20, 2018. 


RBC Capital Markets is acting as sole book-runner and co-lead manager and Guggenheim Securities is acting as co-lead manager of the offering.

Millar Western intends to use the net proceeds of the offering to redeem all of its existing nine per cent Senior Secured Notes due 2022 and to fully repay indebtedness under an existing unsecured loan.

The offer and sale of the notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the 1933 Act), or applicable state securities laws, and the notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws. The notes have not been and will not be qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the notes in Canada will be made on a basis exempt from the prospectus requirements of such securities laws.

This press release does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, the notes in the United States or in any jurisdiction. No offer, solicitation, purchase or sale will be made in the United States or in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful.

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