Financial Reports & Markets
Mercer International concludes successful $200M private offering of 2028 senior notes
September 25, 2023 By P&PC Staff/Mercer International
Mercer International completed its previously announced private offering of $200 million aggregate principal amount of 12.875 percent senior notes due October 1, 2028.
The 2028 Notes were issued at a price of 100 percent 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 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.
Mercer International currently operates in Canada, the U.S. and Germany with a 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.
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