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NEW YORK, Dec. 20, 2017 -- Mercer International Inc. (Nasdaq:MERC) (TSX:MERC.U) (the "Company") today announced that it has completed its previously announced private offering of $300 million in aggregate principal amount of 5.500% senior notes due January 15, 2026 (the "Notes").
The Notes were issued at a price of 100% of their principal amount. The net proceeds from this offering, together with cash on hand, will be used to redeem $300 million in principal amount of the Company's 7.750% Senior Notes due 2022, of which an aggregate principal amount of $400 million are currently outstanding.
The Notes were 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 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. 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 Notes in any state in which such offer, solicitation or sale would be unlawful.
Mercer International Inc. is a global forest products company with operations in Germany and Canada.
The preceding includes forward looking statements which involve known and unknown risks and uncertainties which may cause our actual results in future periods to differ materially from forecasted results. In particular, statements about our plans or intentions regarding the intended use of proceeds of the Notes are forward-looking statements and may not necessarily occur. Among those factors which could cause actual results to differ materially are the following: the highly cyclical nature of our business, raw material costs, our level of indebtedness, competition, foreign exchange and interest rate fluctuations, expenditures for capital projects, environmental regulation and compliance, disruptions to our production, market conditions and other risk factors listed from time to time in our SEC reports.
APPROVED BY:
Jimmy S.H. Lee
Executive Chairman
(604) 684-1099
David M. Gandossi
Chief Executive Officer
(604) 684-1099
