Methanex Announces Sale of US$700 Million 10-Year Notes
September 09 2019 - 5:34PM
Methanex Corporation (TSX:MX) (NASDAQ:MEOH) announced today that it
has priced an offering of senior unsecured notes. Methanex
will issue US$700 million in aggregate principal amount of 5.250%
senior notes due December 15, 2029. The notes will be issued
at a price of 99.969% of the aggregate principal amount, with an
effective yield to maturity of 5.255%. The offering is expected to
close on or about September 12, 2019, subject to customary closing
conditions.
Methanex expects to use the net proceeds from the offering
primarily for any one or more of debt repayments (including
repayment of our existing 3.25% unsecured notes due on December 15,
2019, of which US$350 million in aggregate principal amount is
outstanding), capital expenditures related to plant construction
and maintenance (including pre-funding approximately US$250 million
of the 2020 expenditures for the construction of our Geismar 3
plant), working capital or other general corporate purposes.
HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, and RBC
Capital Markets, LLC acted as joint book-running managers of the
offering. The notes are being offered via an underwritten public
offering pursuant to an effective shelf registration statement in
the United States.
A copy of the final prospectus supplement (and accompanying base
shelf prospectus) may be obtained from HSBC Securities (USA) Inc.,
J.P. Morgan Securities LLC or RBC Capital Markets, LLC using the
contact details below. You may also obtain these documents
for free by visiting EDGAR on the U.S. Securities and Exchange
Commission website at www.sec.gov or SEDAR on the Canadian
Securities Administrators website at www.sedar.com.
This news release is for informational purposes only and does
not constitute an offer to sell, or the solicitation of an offer to
buy, any of the securities, nor shall there be any sale of these
securities in any province or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to qualification under
the securities laws of any such province or jurisdiction.
Methanex is a Vancouver-based, publicly traded company and is
the world's largest producer and supplier of methanol to major
international markets. Methanex shares are listed for trading on
the Toronto Stock Exchange in Canada under the trading symbol "MX"
and on the NASDAQ Global Market in the United States under the
trading symbol "MEOH”.
Forward-Looking Statements
This news release contains certain forward-looking statements,
or forward-looking information, with respect to us and our
industry. These statements relate to future events or our future
performance. All statements other than statements of historical
fact are forward-looking statements. Statements that include the
word "expect" or other comparable terminology and similar
statements of a future or forward-looking nature identify
forward-looking statements. More particularly and without
limitation, any statements regarding the following are
forward-looking statements:
- Methanex’s expected net proceeds from the offering of the
notes;
- Methanex’s intended use of proceeds; and
- Closing of the proposed offering, including the timing
thereof.
Forward-looking statements, by their nature,
involve risks and uncertainties that could cause actual results to
differ materially from those contemplated by the forward-looking
statements. Factors that may cause actual results to vary include,
but are not limited to, risks relating to conditions in the
financial markets and other risk factors as detailed from time to
time in Methanex’s reports filed with Canadian securities
administrators and the U.S. Securities and Exchange Commission.
Certain of these risks are described in more detail in Methanex’s
2018 Annual Management’s Discussion and Analysis, our Second
Quarter 2019 Management’s Discussion and Analysis and in our public
files with Canadian securities administrators and the U.S.
Securities and Exchange Commission.
Readers are cautioned not to place undue reliance
on forward-looking statements. They are not a substitute for the
exercise of one’s own due diligence and judgment. The outcomes
implied by forward-looking statements may not occur and we do not
undertake to update forward-looking statements except as required
by applicable securities laws.
For further information, contact:
Kim CampbellManager, Investor RelationsMethanex Corporation604
661 2600 or Toll Free: 1 800 661 8851www.methanex.com
HSBC Securities (USA) Inc., 452 Fifth Avenue, New York, NY, USA
10018, Attention: Transaction Management Group, by calling
1-212-525-3652 or by emailing tmg.americas@us.hsbc.com
J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New
York 10179, Attention: Investment Grade Syndicate Desk – 3rd floor,
or by calling collect 1-212-834-4533
RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York,
NY 10281, Attention: Debt Capital Markets, by calling toll-free
(866) 375-6829 or by e-mailing
rbcnyfixedincomeprospectus@rbccm.com
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