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ESTERN
million. Louisiana-Pacific expects to receive the money within a few months. Interest will continue to accrue until that payment is made, at the rate of about $2.5 million per month.
About $100 million of the settlement will be used to pay the related tax liability. Another $170 million will repay long-term debt obligations which carry provisions requiring repayment when the settlement is received by L-P.
Portions of the remaining funds will be used to repay other debt and to fund a number of ongoing capital projects such as the Inner-Seal panel plant under construction now near Athens, Ga., and the $70 million upgrading of the company's pulp mill in Samoa. Ca.
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