Mercer International Inc. Completes Private Offering of $200,000,000 of 2028 Senior Notes
September 21 2023 - 12:44PM
Mercer International Inc. (Nasdaq: MERC) (the "Company") today
announced that it has completed its previously announced private
offering of $200.0 million aggregate principal amount of 12.875%
senior notes due October 1, 2028 (the "2028 Notes").
The 2028 Notes were
issued at a price of 100.000% of their principal amount. The net
proceeds of the offering will be used by the Company to pay down
borrowings under its Canadian revolving credit facility, and for
working capital and general corporate purposes, including
discretionary capital projects at its facilities.
The 2028 Notes were
sold to qualified institutional buyers in reliance on Rule 144A
under the Securities Act of 1933, as amended (the "Securities
Act"). The 2028 Notes have not been registered under the Securities
Act or any state securities laws and, unless so registered, may not
be offered or sold in the United States except pursuant to an
exemption form, or in a transaction not subject to, the
registration requirements of the Securities Act and applicable
state securities laws. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of the 2028 Notes in any state in which such
offer, solicitation or sale would be unlawful.
Mercer International Inc. is a global forest
products company with operations in Germany, the United States and
Canada with consolidated annual production capacity of 2.3 million
tonnes of pulp, 960 million board feet of lumber, 210,000 cubic
meters of cross-laminated timber, 45,000 cubic meters of glulam, 17
million pallets and 230,000 metric tonnes of biofuels.
The preceding contains "forward looking
statements" which involve known and unknown risks and uncertainties
which may cause our actual results in future periods to differ
materially from forecasted results. Words such as "expects",
"anticipates", "projects", "intends", "designed", "will",
"believes", "estimates", "may", "could" and variations of such
words and similar expressions are intended to identify such
forward-looking statements. Among those factors which could cause
actual results to differ materially are the following: the highly
cyclical nature of our business, raw material costs, our level of
indebtedness, competition, foreign exchange and interest rate
fluctuations, expenditures for capital projects, environmental
regulation and compliance, disruptions to our production, market
conditions and other risk factors listed from time to time in our
SEC reports.
APPROVED BY:
Jimmy S.H. Lee
Executive Chairman
(604) 684-1099
Juan Carlos Bueno
Chief Executive Officer
(604) 684-1099
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