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Below are the latest news stories about Norbord Inc that investors may wish to consider to help them evaluate OSB as an investment opportunity.
West Fraser Timber Co. Ltd. -- Moody's says Norbord's rating and review not currently affected by West Fraser's purchase
Announcement: Moody's says Norbord's rating and review not currently affected by West Fraser's purchaseGlobal Credit Research - 01 Feb 2021Toronto, February 01, 2021 -- Moody's Investors Service (Moody's) said that the acquisition of Norbord Inc. (Norbord, Ba1 Ratings Under Review) by West Fraser Timber Co. Ltd.'s (West Fraser, Baa3) will have no immediate impact on Norbord's Ba1 rating or review for upgrade following the stock-for-stock acquisition that closed today.As part of the transaction, West Fraser has secured $1.3 billion in committed credit facilities, which may be used to redeem Norbord's $665 million of bonds (rated Ba1), which has a change of control put. Given recent trading prices, it is uncertain if Norbord's bonds will be put.
If Norbord's rated debt is assumed by West Fraser in a manner that leaves Norbord's bonds essentially pari passu with West Fraser's senior unsecured notes, Norbord's bonds will likely be rated in-line with West Fraser's rating. If this does not occur, Norbord's bond rating will be based on the stand-alone credit profile of Norbord plus anticipated support from West Fraser (subject to receiving adequate financial information to determine and maintain the Norbord bond rating).West Fraser has strong liquidity supported by over C$3 billion of liquidity sources with no significant debt maturities over the next 12 months.
Norbord Obtains Final Court Approval of the Plan of Arrangement and West Fraser Obtains Conditional NYSE Listing Approval - Stocks News Feed
VANCOUVER, BC and TORONTO, ON, Jan. 22, 2021 /CNW/ – West Fraser Timber Co. Ltd. (“West Fraser“) (TSX:WFT) and Norbord Inc. (“Norbord“) (TSX:OSB) (NYSE:OSB) today jointly announce that Norbord has obtained a final order from the Ontario Superior Court of Justice (Commercial List) approving the previously–announced plan of arrangement whereby West Fraser will acquire all of… Read More »Norbord Obtains Final Court Approval of the Plan of Arrangement and West Fraser Obtains Conditional NYSE Listing Approval
TORONTO — Shareholders of West Fraser Timber Co. Ltd. and Norbord Inc. have approved a $4-billion all-stock deal that will marry two of Canada's big wood product producers.
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West Fraser and Norbord Announce Shareholder Approval of West Fraser's Acquisition of Norbord and Joint Earnings Call on 2020 West Fraser and Norbord Standalone Results
West Fraser Timber Co. Ltd. ("West Fraser") (TSX: WFT) and Norbord Inc. ("Norbord") (TSX and NYSE: OSB) today jointly announce that the shareholders of each of West Fraser and Norbord have approved all resolutions relating to West Fraser's acquisition (the "Transaction") of all of the issued and outstanding common shares of Norbord (the "Norbord Shares").
MONTREAL, Jan. 14, 2021 /CNW Telbec/ - Montreal-based ELNA Medical, a leading Quebec provider of healthcare services, announced today that it has completed the acquisition of Medicentres Canada, the largest chain of corporately owned medical clinics in the country.
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