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Attention Business Editors
Boise Inc. Announces Pricing of Senior Notes Offering
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BOISE, Idaho, March 9 /CNW/ -- Boise Inc. (NYSE: BZ) ("Boise"), a leading
manufacturer of packaging products and papers, announced today that its wholly
owned subsidiaries, Boise Paper Holdings, L.L.C. ("Boise Paper Holdings") and
Boise Co-Issuer Company (together, the "Issuers"), priced the previously
announced offering of $300 million aggregate principal amount of Senior Notes
due 2020 (the "Notes"). The Notes will have an interest rate of 8% per annum
and will be issued at a price equal to 98.311% of their face value. The Notes
are being offered in a private offering that is exempt from the registration
requirements of the Securities Act of 1933, as amended (the "Securities Act").
Boise intends to use the net proceeds from this offering to retire a portion
of the existing term loan indebtedness under Boise Paper Holdings' senior
secured credit facilities and pay related fees and expenses. The offering is
expected to close on or about March 19, 2010, subject to customary closing
conditions.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the Notes nor does it constitute an
offer, solicitation, or sale in any jurisdiction in which such offer,
solicitation, or sale is unlawful. The Notes have not been registered under
the Securities Act or applicable state securities laws and are being offered
only to qualified institutional buyers in reliance on Rule 144A under the
Securities Act and outside the United States in accordance with Regulation S
under the Securities Act. Unless so registered, the Notes cannot be offered or
sold in the United States except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the Securities
Act and applicable state securities laws.
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Forward-Looking Statements
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This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. The forward-looking
statements include, without limitation, statements concerning this proposed
debt offering and any statement that may predict, forecast, indicate, or imply
future results, performance, or achievements. Forward-looking statements
involve risks and uncertainties, including but not limited to economic,
competitive, and technological factors outside Boise's control that may cause
Boise's business, strategy, or actual results to differ materially from the
forward-looking statements. For information about the risks and uncertainties
associated with Boise's business, please refer to Boise's filings with the
Securities and Exchange Commission. Boise does not intend, and undertakes no
obligation, to update any forward-looking statements.
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/For further information: Media, Virginia Aulin, +1-208-384-7837, or
Investors, Jason Bowman, +1-208-384-7456, both of Boise Inc./
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