SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): September 29, 1994
Boise Cascade Corporation
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(Exact Name of Registrant as Specified in Its Charter)
Delaware 1-5057 82-0100960
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(State or Other Jurisdiction of (Commission (I.R.S. Employer
Incorporation or Organization) File Number) Identification No.)
One Jefferson Square, Boise, Idaho 83702
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(Address of Principal Executive Offices) (ZIP Code)
Registrant's Telephone Number, Including Area Code: 208/384-6161
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Item 5. Other Events.
On September 30, 1994, the Company's Canadian subsidiary, Rainy
River Forest Products Inc., announced the sale of C$420 million
of units in an initial public offering, primarily in Canada, and
a concurrent sale of US$110 million senior secured notes in a
public offering in the U.S. The common shares sold represent 51%
of the outstanding voting common shares and 40.34% of the total
outstanding equity of Rainy River Forest Products. Closing for
the transactions is scheduled for October 13, 1994.
Rainy River owns and operates a newsprint mill in Kenora,
Ontario, an uncoated groundwood mill in Fort Frances, Ontario,
and on September 28, 1994, acquired, as part of this transaction,
Boise Cascade's West Tacoma, Washington, newsprint mill. Rainy
River will have an exclusive contract to sell all the newsprint
produced by Boise Cascade's DeRidder, Louisiana, facility.
On September 30, 1994, the Company announced that it will record
a charge to third-quarter 1994 results of approximately
$27 million, or 71 cents per share, arising from the aforesaid
transactions.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits.
Exhibit 99 News release issued by the Company on
September 30, 1994.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned thereunto duly
authorized.
BOISE CASCADE CORPORATION
/s/ IRVING LITTMAN
Irving Littman
Vice President and Treasurer
Date: October 3, 1994
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Exhibit Index
Exhibit No. Description Page
99 News release issued by the Company on
September 30, 1994.
Exhibit No. 99
News release issued by the Company on September 30, 1994.
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Contact:
Vincent Hannity
(Office) (208) 384-6390
(Home) (208) 345-8141
Contact:
Robert B. Hayes
(Office) (208) 384-7675
(Home) (208) 345-9863
FOR IMMEDIATE RELEASE: September 30, 1994
BOISE CASCADE CORPORATION ANNOUNCES IMPACT OF
SECURITIES SALES BY RAINY RIVER FOREST PRODUCTS INC.
BOISE, Idaho -- Boise Cascade Corporation (NYSE:BCC) today
announced that pricing has been set for the securities to be
sold by its Canadian subsidiary, Rainy River Forest Products
Inc.
Rainy River Forest Products will sell C$420 million of
equity units in an initial public offering, primarily in
Canada, and US$110 million of senior secured notes in a public
offering in the U.S.
Rainy River's equity securities will be sold at a premium
to the net book value of the Canadian company. However, after
translation to U.S. dollars and recognition of a noncash
charge for U.S. taxes on previously undistributed Canadian
earnings, Boise Cascade will record a charge to third quarter
1994 results of approximately $27 million, or 71 cents per
share.
Upon completion of Rainy River's securities offerings and
refinancing, Boise Cascade's total debt will be reduced by
approximately $300 million.
Rainy River owns and operates a newsprint mill in Kenora,
Ontario, an uncoated groundwood mill in Fort Frances, Ontario,
and has acquired, as part of this transaction, Boise Cascade's
West Tacoma, Washington, newsprint mill. Rainy River has
long-term harvesting rights on 3.0 million acres of timberland
in Ontario.
Rainy River will have an exclusive contract to sell all
the newsprint produced by Boise Cascade's DeRidder, Louisiana,
facility.
Boise Cascade Corporation is an integrated paper and
forest products company headquartered in Boise, Idaho, with
operations located throughout the United States and Canada.
The company manufactures and distributes paper and paper
products, office products, and building products and owns and
manages timberland to support these operations.
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