Financial Reports & Markets
Mercer completes CDN$160 million revolving credit facility
January 21, 2022 By P&PC Staff/Mercer International
Mercer International announced that certain Canadian subsidiaries of the company have entered into a new CDN $160 million joint asset-backed revolving credit facility with a syndicate of North American bank lenders. The new facility, which will be used for general corporate purposes, replaces two existing revolving credit facilities of certain of the loan parties aggregating CDN$100 million.
The new facility has a five-year term and availability is based on a borrowing base. The new facility is secured by substantially all of the loan parties’ assets.
The new facility will bear interest at a rate determined by reference to the Prime Rate, the BA Rate, the Base Rate or Adjusted Term SOFR plus a margin, depending on the leverage ratio, as defined in the new facility.
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