Mercer International Inc. Announces Plans to Issue $200 Million of Senior Notes in Private Offering
September 19 2023 - 8:06AM
Mercer International Inc. (Nasdaq: MERC) (the "Company") today
announced that it intends to offer for sale (the "Offering") $200.0
million in aggregate principal amount of senior notes due 2028 (the
"2028 Notes").
The Company intends to use the net proceeds of
the Offering 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 will be offered and sold to
qualified institutional buyers in reliance on Rule 144A under the
Securities Act of 1933, as amended (the "Securities Act"), and
outside the United States to non-U.S. persons in reliance on
Regulation S under 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 from, 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 or
jurisdiction 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" within the meaning of federal securities laws and is
intended to qualify for the safe harbor from liability established
by the Private Securities Litigation Reform Act of 1995, including,
without limitation, the Company's intentions regarding the
consummation of the Offering, and the intended use of proceeds.
"Forward looking statements" involve unknown risks and
uncertainties which may cause the Company's actual results in
future periods to differ materially from forecasted results. These
statements are based on the Company's management's estimates and
assumptions with respect to future events, which include
uncertainty as to its ability to consummate the Offering, which
estimates are believed to be reasonable, though inherently
uncertain and difficult to predict. A discussion of factors that
could cause actual results to vary is included in the Company's
Annual Report on Form 10-K and other periodic reports filed with
the Securities and Exchange Commission.
APPROVED BY:
Jimmy S.H. LeeExecutive Chairman(604)
684-1099
Juan Carlos BuenoChief Executive Officer(604)
684-1099
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