Filed pursuant to General Instruction II.L of Form F-10
File No. 333-248689
The information in this preliminary prospectus
supplement is not complete and may be changed. This preliminary prospectus supplement, together with the accompanying prospectus, is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any jurisdiction
where the offer or sale is not permitted.
SUBJECT TO COMPLETION, DATED SEPTEMBER 17, 2020
PRELIMINARY PROSPECTUS SUPPLEMENT
(to Short Form Base Shelf Prospectus dated August 22, 2019, as amended by Amendment No. 1 dated September 9, 2020)
US$
METHANEX CORPORATION
% Senior Notes due
The US$ aggregate principal amount
of % Senior Notes due (the Notes) offered by this prospectus supplement will bear interest at the rate
of % per annum from , 2020 and will mature
on , . We will pay interest on the Notes
on and of each year, beginning
on , . The Notes will be unsecured obligations and will rank equally with all of our other unsecured and
unsubordinated obligations. We may redeem the Notes, in whole or in part, at any time at the redemption prices described in this prospectus supplement, including accrued and unpaid interest.
This prospectus supplement does not qualify the distribution of any Notes which may be offered or sold in any province or
territory of Canada, including the Province of British Columbia, and any such sales will only be made pursuant to private placement exemptions from the prospectus requirements of the securities laws of such provinces and territories.
We will not apply to list the Notes on any securities exchange or to include the Notes in any automated quotation system.
Accordingly, there is no market through which the Notes may be sold and purchasers may not be able to resell Notes purchased under this prospectus supplement. This may affect the pricing of the Notes in the secondary market, the transparency and
availability of trading prices, the liquidity of the Notes and the extent of issuer regulation. See Risk Factors.
Investing in the Notes involves risks. See Risk Factors beginning on page S-17 of this prospectus supplement and on page 5 of the accompanying Short Form Base Shelf Prospectus dated August 22, 2019, as amended by Amendment No. 1 dated September 9, 2020 (referred to as the
accompanying prospectus in this prospectus supplement).
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Per Note
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Total
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Public offering price(1)
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%
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US$
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Underwriting commission
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%
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US$
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Proceeds, before expenses, to Methanex
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%
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US$
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(1)
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Plus accrued interest, if any, from ,
2020.
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None of the U.S. Securities and Exchange Commission (the SEC), the British Columbia
Securities Commission (the BCSC) or any state, provincial or territorial securities commission has approved or disapproved of these securities or determined if this prospectus supplement or the accompanying prospectus is truthful or
complete. Any representation to the contrary is a criminal offense.
We are permitted, under a multijurisdictional
disclosure system adopted by the United States and Canada, to prepare this prospectus supplement and the accompanying prospectus in accordance with Canadian disclosure requirements, which are different from U.S. disclosure requirements. Our
financial statements, which are incorporated by reference herein, have been prepared, for all periods presented, in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board
(IFRS). As a result, they may not be comparable to financial statements of U.S. companies.
Owning the
Notes may subject you to tax consequences both in the United States and Canada. This prospectus supplement may not describe these tax consequences fully. You should read the tax discussion under Material Income Tax Considerations and are
urged to consult with your own tax advisor with respect to your own particular circumstances.
Your ability to
enforce civil liabilities under U.S. federal securities laws may be affected adversely by the fact that we are incorporated in Canada, most of our officers and directors and the experts named in this prospectus supplement and the accompanying
prospectus are not residents of the United States, and many of our assets and all or a substantial portion of the assets of such persons are located outside of the United States.
Our earnings coverage ratio for the twelve month period ended June 30, 2020 is less than one-to-one. See Pro Forma
Earnings Coverage.
Affiliates of certain of the underwriters are lenders to us under our credit facilities and to
certain of our subsidiaries under certain debt obligations. Consequently, we may be considered to be a connected issuer of such underwriters under applicable Canadian securities legislation. See Underwriting.
We expect that delivery of the Notes will be made to investors in book-entry form through the facilities of The Depository Trust
Company and its direct and indirect participants, including Euroclear Bank SA/NV, an operator of the Euroclear system, and Clearstream Banking, S.A., on or about , 2020.
Joint Book-Running Managers
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J.P. Morgan
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BMO Capital Markets
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BNP PARIBAS
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RBC Capital Markets
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, 2020