Plum Creek Timber Prices 12.1 Mln Shares Offering At $45/shr - Quick Facts

(RTTNews) - Plum Creek Timber Company, Inc. (PCL), Wednesday said it priced the underwritten public offering of 12.1 million shares, at $45 per share. Further, the company has granted underwriters a 30-day option to purchase up to about 1.8 million shares. Plum Creek intends to use the net proceeds to fund the previously announced acquisition of timberlands and other real estate assets from MeadWestvaco Corporation and for repayment of about $297 million of Plum Creek's outstanding debt. The offering is expected to close on November 4.

Goldman, Sachs & Co. and J.P. Morgan Securities LLC are serving as joint book-running managers, while Wells Fargo Securities, LLC is serving as a bookrunner. Mitsubishi UFJ Securities (USA), Inc., Piper Jaffray & Co., RBS Securities Inc., Rabo Securities USA, Inc. and The Williams Capital Group, L.P. are serving as co-managers for the offering.