debt
confidence high
sentiment neutral
materiality 0.55
Mercer issues $200M 12.875% notes due 2028 to redeem $300M 5.5% notes due 2026
MERCER INTERNATIONAL INC.
- Issued $200M additional 12.875% senior notes due 2028 at 103% of principal; yield to worst 11.624%.
- Net proceeds plus cash will redeem all $300M of 5.500% senior notes due 2026 on Nov 1, 2024 at par plus accrued interest.
- Debt reduction of $100M; total debt outstanding after redemption will decrease by that amount.
- Interest on new notes payable semi-annually; maturity Oct 1, 2028.