Boise Cascade Co (NYSE:BCC) Files An 8-K

In anticipation of upcoming investor and analyst meetings, Boise Cascade Co (NYSE:BCC) is providing the updates below regarding its share repurchase program and intentions to reduce its outstanding debt.

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Boise Cascade repurchased 400,000 shares of its common stock between October 27 and November 2, 2016, for $7.6 million or an average price per share of $19.09. There are 696,989 shares remaining under the Company’s two million share repurchase program authorized by the Company’s board of directors on February 25, 2015.

Boise Cascade is currently negotiating an amendment to its $75 million senior secured term loan agented by American AgCredit, PCA (“Term Loan”), which is expected, among other things, to allow the Company to prepay and subsequently re-borrow amounts prepaid on or before December 31, 2018. The Company’s option to re-borrow applicable prepaid principal amounts is expected to expire on December 31, 2019. Boise Cascade expects to prepay $30 million of the Term Loan during the fourth quarter following completion of the planned amendment. There is no guarantee that the Company will be able to enter into the amendment or that the terms of the amendment described above will not change or include additional or different terms. Similarly, there is no guarantee that the Company will prepay amounts under the Term Loan during the fourth quarter. A change in circumstances could impact the Company’s current expectations with respect to the entry into the amendment and its terms and the prepayment of amounts under the Term Loan.

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