Mercer International Inc. Announces Proposed Add-On Offering of $200 Million of Senior Notes Due 2028 in Private Offering and Redemption of 5.500% Senior Notes Due 2026

NEW YORK, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Mercer International Inc. (NASDAQ:MERC) (the "Company") today announced that it intends to offer for sale (the "Offering") $200 million in aggregate principal amount of its senior notes due October 1, 2028 (the "Additional Notes"). The Additional Notes will be issued as additional notes under an existing 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 "Existing Notes").

The Company intends to use the net proceeds of the Offering, along with cash on hand, to redeem $300 million in principal amount of its currently outstanding 5.500% senior notes due 2026 (the "2026 Senior Notes").

In connection with the proposed redemption of the 2026 Senior Notes, the Company has issued a conditional notice to redeem all of the 2026 Senior Notes, at $1,000.00 per $1,000.00 of principal amount redeemed, plus accrued and unpaid interest to, but not including, the redemption date. The redemption date is November 1, 2024 and redemption is conditioned upon completion of the Offering and the Company's deposit with the paying agent of sufficient funds to pay the redemption price. This press release is not a notice of redemption.

Other than with respect to the date ...