Mercer International Inc. Completes Private Add-On Offering of $200,000,000 of 2028 Senior Notes

NEW YORK, Oct. 30, 2024 (GLOBE NEWSWIRE) -- 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 "Additional Notes").

The Additional Notes were issued at a price of 103.000% of their principal amount, plus accrued interest from October 1, 2024, for a yield to worst of 11.624%. The Additional Notes were issued as additional notes under the indenture dated September 21, 2023, pursuant to which the Company previously issued $200.0 million aggregate principal of 12.875% senior notes due 2028. The net proceeds of the offering, along with cash on hand, will be used by the Company to redeem $300.0 million in principal amount of its currently outstanding 5.500% senior notes due 2026 (the "2026 Notes").

Pursuant to the previously announced redemption, the Company will redeem all $300.0 million aggregate principal amount outstanding of 2026 Notes on November 1, 2024 at $1,000 per $1,000 of principal amount redeemed, plus accrued and ...