Weyerhaeuser Company, a leading timber, land, and forest products company, announced the partial redemption of its 4.75% Notes due 2026. The company is set to redeem $500,000,000.00 of the outstanding Notes on August 25, 2025, leaving $250,000,000.00 of the Notes outstanding. The redemption price is calculated as the greater of 100% of the principal amount of the Notes or the present values of the remaining scheduled payments of principal and interest on the Notes, discounted to the Redemption Date on a semi-annual basis at the Treasury Rate plus 20 basis points, along with accrued and unpaid interest on the principal amount of the Notes redeemed to the Redemption Date.
The aggregate principal amount of the Notes outstanding on the date of the announcement was $750,000,000.00. The redemption will be financed using funds the company has deposited with the Paying Agent. Following the Redemption Date, interest on the Notes called for redemption will cease to accrue, and the holders of the redeemed Notes will only have the right to receive payment of the Redemption Price upon surrender of the Notes to the Paying Agent.
Holders who wish to avoid the imposition of backup withholding tax should submit an Internal Revenue Service Form W-9 or an applicable Form W-8, as appropriate, when presenting a Note for payment.
This redemption demonstrates the company's commitment to managing its debt and optimizing its capital structure. The market has reacted to these announcements by moving the company's shares -0.65% to a price of $25.95. For more information, read the company's full 8-K submission here.
