Louisiana Pacific starts tender for 10 7/8% notes

New York, March 11 - Louisiana-Pacific Corp. said it has begun a tender offer and consent solicitation for any and all of its $200 million outstanding 10 7/8% senior subordinated notes due 2008.

The Portland, Ore. building materials company is offering to pay a consent payment of $10 and a tender price of $1,187.50 per $1,000 principal amount of notes tendered by the consent date of 5 p.m. ET on March 24.

For consents given before the consent date but without a tender, Louisiana-Pacific will pay a consent payment of $10 per $1,000 principal amount.

Notes tendered after the consent date but before the expiration at 9 a.m. ET on April 8 will be purchased at $1,187.50 per $1,000 principal amount.

The consents solicitation is to amend the note indenture to suspend substantially all of the restrictive covenants, subject initially to the company's maintaining specified corporate credit ratings, and to relax certain other restrictive covenants in the indenture.

Additional information is available from Goldman, Sachs & Co. (800 828-3182). Documenation may be obtained from D.F. King & Co., Inc. (888 628-9011).

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