Methanex Announces Sale of US$700 Million 7-Year Notes
September 17 2020 - 5:07PM
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 5.125%
senior notes due October 15, 2027. The notes will be issued at
a price of 100% of the aggregate principal amount, with an
effective yield to maturity of 5.125%. The offering is expected to
close on or about September 22, 2020, subject to customary closing
conditions.
Methanex intends to use the net proceeds from
the offering to repay or redeem the existing 5.25% unsecured notes
due on March 1, 2022, of which US$250 million in aggregate
principal amount is outstanding, and for maintenance capital
expenditures, working capital or other general corporate
purposes.
J.P. Morgan Securities LLC, BMO Capital Markets
Corp., BNP Paribas Securities Corp. and RBC Capital Markets, LLC
acted as the 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, as amended) may be obtained by calling J.P.
Morgan Securities LLC collect at (866)-803-9204 or writing to J.P.
Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717. 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 “intend”, "expect", “will” 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 our 2019 Annual Management’s Discussion
and Analysis and Second Quarter 2020 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 CampbellDirector, Investor RelationsMethanex Corporation604
661 2600 or Toll Free: 1 800 661 8851www.methanex.com
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