USG prices private placement of senior notes

Fri. July 31, 2009; Posted: 02:18 PM

Jul 31, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- USGR | Quote | Chart | News | PowerRating -- Update on July 30, 2009:

USG Corporation, a US-based manufacturer and distributor of building materials and products, has priced its private placement of $300 million aggregate principal amount of its 9.75 % senior notes due 2014. The notes will be sold to investors at a price of 98.086% of the principal amount of the notes, plus accrued interest from August 4, 2009, if any.

The offering is expected to close on or about August 4, 2009.

Announcement (July 28, 2009):

USG has launched a private offering of $250 million aggregate principal amount of senior notes.

USG's obligations under the notes will be guaranteed on a senior unsecured basis by certain of its domestic subsidiaries.

The notes will be offered and sold only to qualified institutional buyers.

Deal Value (US$ Million) 300
Deal Type                Private Placement
Sub-Category             None
Deal Status              Announced: 2009-07-28

Deal Participants

Target (Company)   USG Corporation
Acquirer (Company) Undisclosed Investors

Deal Rationale

USG intends to use the net proceeds from the sale of the notes for general corporate purposes, which may include the repayment of indebtedness, working capital, capital expenditures, and acquisitions.

For full details for USGR click here.

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