{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-26-212050","form_type":"8-K","ticker":"MERC","cik":"0001333274","company_name":"MERCER INTERNATIONAL INC.","filed_at":"2026-05-07T23:59:59+00:00","discovered_at":"2026-05-14T18:02:32.165565+00:00","generated_at":"2026-05-14T21:27:56.350242+00:00","sec_items":["1.01","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.78,"calibrated_materiality_score":0.78,"confidence":"high","headline":"Mercer German units get covenant waivers on €370M revolver; tighter terms imposed","bullets":["Leverage ratio covenant waived for first three quarters of FY2026; compliance resumes Dec 31, 2026.","Drawings capped at €300M if leverage >2.00x; average liquidity ≥$30M (13-week rolling); capex ≤€60M in 2026.","Distributions to parent restricted; up to €15M allowed with Agent consent and conditions.","Loan Parties must grant security over assets ≥110% of drawn amount; interest margin set at 2.50%-4.25%.","New events of default include cross-default on 12.875% and 5.125% senior notes and Canadian revolver."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-212050","json":"https://secwatch.observer/filing/0001193125-26-212050.json","markdown":"https://secwatch.observer/filing/0001193125-26-212050.md","text":"https://secwatch.observer/filing/0001193125-26-212050.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1333274/000119312526212050/0001193125-26-212050-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1333274/000119312526212050/d102731d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-14T21:27:56.350242+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1052d777f691d98a163153d82a959d75168af06c","claim":"MERCER INTERNATIONAL INC. amended Waiver and Consent Request Letter with UniCredit Bank GmbH, as agent (effective 2026-05-04).","evidence_excerpt":"Effective May 4, 2026, certain German subsidiaries (the “ Loan Parties ”) of Mercer International Inc. (the “ Company ”) entered into a Waiver and Consent Request Letter (the “ Waiver ”) with respect to that certain revolving facility agreement dated September 15, 2022","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1333274/000119312526212050/0001193125-26-212050-index.htm","confidence":0.9}],"comparable_filings":[{"accession":"0001437749-26-019065","ticker":"LIQT","company_name":"LIQTECH INTERNATIONAL INC","filed_at":"2026-06-01T21:17:04+00:00","headline":"LiqTech to convert $3M of $6M debt to equity, pay $3M cash in restructuring","event_type":"debt","sec_items":["1.01","3.02","9.01"],"materiality_score":0.65,"calibrated_materiality_score":0.65,"match_reasons":["same fact type: material_agreement","same SEC item: 1.01, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-26-019065","json":"https://secwatch.observer/filing/0001437749-26-019065.json","markdown":"https://secwatch.observer/filing/0001437749-26-019065.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1307579/000143774926019065/0001437749-26-019065-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1307579/000143774926019065/liqt20260601_8k.htm"},"side_by_side_evidence":{"fact_type":"material_agreement","source_excerpt":"Effective May 4, 2026, certain German subsidiaries (the “ Loan Parties ”) of Mercer International Inc. (the “ Company ”) entered into a Waiver and Consent Request Letter (the “ Waiver ”) with respect to that certain revolving facility agreement dated September 15, 2022","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1333274/000119312526212050/0001193125-26-212050-index.htm","comparable_excerpt":"On May 26, 2026, LiqTech International, Inc. (the “Company”) entered into a Debt Cancellation Agreement (the “Debt Cancellation Agreement”) with affiliates of Bleichroeder L.P., 21 April Fund, L.P., and 21 April Fund, Ltd. (the “Note Holders”).","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1307579/000143774926019065/0001437749-26-019065-index.htm"}},{"accession":"0001104659-26-068944","ticker":"TSEOF","company_name":"Trinseo PLC","filed_at":"2026-06-01T20:23:35+00:00","headline":"Trinseo obtains $142.5M new money DIP financing and $150M AR facility in Chapter 11","event_type":"debt","sec_items":["1.01","2.03","9.01"],"materiality_score":0.8,"calibrated_materiality_score":0.8,"match_reasons":["same fact type: material_agreement","same SEC item: 1.01, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-068944","json":"https://secwatch.observer/filing/0001104659-26-068944.json","markdown":"https://secwatch.observer/filing/0001104659-26-068944.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1519061/000110465926068944/0001104659-26-068944-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1519061/000110465926068944/tm2615985d1_8k.htm"},"side_by_side_evidence":{"fact_type":"material_agreement","source_excerpt":"Effective May 4, 2026, certain German subsidiaries (the “ Loan Parties ”) of Mercer International Inc. (the “ Company ”) entered into a Waiver and Consent Request Letter (the “ Waiver ”) with respect to that certain revolving facility agreement dated September 15, 2022","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1333274/000119312526212050/0001193125-26-212050-index.htm","comparable_excerpt":"On May 28, 2026, the Company, as parent, Trinseo NA Finance LLC, as holdings, Trinseo Luxco Finance SPV S.à r.l. and Trinseo NA Finance SPV LLC (together, the “ SHC Borrowers ”), as borrowers, the guarantors party thereto from time to time, the lenders party thereto from time to time (the “ SHC DIP Lenders ”), and Alter Domus (US) LLC, as administrative agent and collateral agent, entered into a Senior Secured Super-Priority Debtor-In-Possession HoldCo Credit Agreement (the “ Super-Holdco DIP Credit Agreement ”), providing for a senior secured super-priority priming term loan debtor-in-possession credit facility in an aggregate principal amount of $157.5 million (the “ Super-Holdco DIP Facility ”).","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1519061/000110465926068944/0001104659-26-068944-index.htm"}},{"accession":"0001628280-26-039479","ticker":"VVX","company_name":"V2X, Inc.","filed_at":"2026-06-01T20:10:20+00:00","headline":"V2X refinances $868.5M term loans with new tranche maturing 2030; SOFR+2% margin","event_type":"debt","sec_items":["1.01","2.03","9.01"],"materiality_score":0.65,"calibrated_materiality_score":0.65,"match_reasons":["same fact type: material_agreement","same SEC item: 1.01, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-26-039479","json":"https://secwatch.observer/filing/0001628280-26-039479.json","markdown":"https://secwatch.observer/filing/0001628280-26-039479.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1601548/000162828026039479/0001628280-26-039479-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1601548/000162828026039479/vec-20260529.htm"},"side_by_side_evidence":{"fact_type":"material_agreement","source_excerpt":"Effective May 4, 2026, certain German subsidiaries (the “ Loan Parties ”) of Mercer International Inc. (the “ Company ”) entered into a Waiver and Consent Request Letter (the “ Waiver ”) with respect to that certain revolving facility agreement dated September 15, 2022","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1333274/000119312526212050/0001193125-26-212050-index.htm","comparable_excerpt":"entered into Amendment No. 6 to First Lien Credit Agreement, dated as of May 29, 2026 (the “Amendment”), with Royal Bank of Canada, as administrative agent and collateral agent, and the other financial institutions and lenders party thereto","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1601548/000162828026039479/0001628280-26-039479-index.htm"}},{"accession":"0001193125-26-215654","ticker":"ACH","company_name":"ACCENDRA HEALTH INC/VA/","filed_at":"2026-05-11T23:59:59+00:00","headline":"Accendra Health launches $326.25M 9% first lien notes, $300M revolver, and exchange offers for existing notes","event_type":"debt","sec_items":["1.01","7.01","9.01"],"materiality_score":0.85,"calibrated_materiality_score":0.85,"match_reasons":["same fact type: material_agreement","same SEC item: 1.01, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-215654","json":"https://secwatch.observer/filing/0001193125-26-215654.json","markdown":"https://secwatch.observer/filing/0001193125-26-215654.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/75252/000119312526215654/0001193125-26-215654-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/75252/000119312526215654/d135857d8k.htm"},"side_by_side_evidence":{"fact_type":"material_agreement","source_excerpt":"Effective May 4, 2026, certain German subsidiaries (the “ Loan Parties ”) of Mercer International Inc. (the “ Company ”) entered into a Waiver and Consent Request Letter (the “ Waiver ”) with respect to that certain revolving facility agreement dated September 15, 2022","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1333274/000119312526212050/0001193125-26-212050-index.htm","comparable_excerpt":"On May 11, 2026, Accendra Health, Inc. (the “ Company ”) entered into a Commitment and Consent Letter (the “ Commitment Letter ”) with certain institutions that are (a)(i) holders of the Company’s 4.500% Senior Notes due 2029 (the “ 2029 Notes ”) and 6.625% Senior Notes due 2030 (the “ 2030 Notes ” and, together with the 2029 Notes, the “ Existing Notes ”), collectively holding approximately all of the outstanding principal amount of the 2029 Notes and approximately 83% of the outstanding principal amount of the 2030 Notes as of May 11, 2026 and (ii) lenders under the Company’s existing Term Loan Credit Agreement (as defined below) (collectively, the “ Commitment and Consenting Parties ” and each, a “ Commitment and Consenting Party ”), (b) certain lenders under the Company’s existing Term Loan Credit Agreement consenting solely with respect to the Term B-1 Term Loan Consent (as defined below) (the “ Term B-1 Term Loan Consenting Parties ”) and (c) all lenders under the Company’s Exist","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/75252/000119312526215654/0001193125-26-215654-index.htm"}},{"accession":"0001213900-26-054183","ticker":"EMAT","company_name":"Evolution Metals & Technologies Corp.","filed_at":"2026-05-11T23:59:59+00:00","headline":"EMAT secures $100M convertible debenture facility from Yorkville; first $20M tranche issued","event_type":"debt","sec_items":["1.01","2.03","3.02","7.01","9.01"],"materiality_score":0.7,"calibrated_materiality_score":0.7,"match_reasons":["same fact type: material_agreement","same SEC item: 1.01, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-26-054183","json":"https://secwatch.observer/filing/0001213900-26-054183.json","markdown":"https://secwatch.observer/filing/0001213900-26-054183.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1866226/000121390026054183/0001213900-26-054183-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1866226/000121390026054183/ea0290073-8k_evolution.htm"},"side_by_side_evidence":{"fact_type":"material_agreement","source_excerpt":"Effective May 4, 2026, certain German subsidiaries (the “ Loan Parties ”) of Mercer International Inc. (the “ Company ”) entered into a Waiver and Consent Request Letter (the “ Waiver ”) with respect to that certain revolving facility agreement dated September 15, 2022","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1333274/000119312526212050/0001193125-26-212050-index.htm","comparable_excerpt":"On May 7, 2026, Evolution Metals & Technologies Corp. (“EMAT” or the “Company”) entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”) with YA II PN, LTD. (“Yorkville”), a fund managed by Yorkville Advisors Global, LP, pursuant to which the Company agreed to issue and sell to Yorkville convertible debentures in the aggregate principal amount of up to $100,000,000","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1866226/000121390026054183/0001213900-26-054183-index.htm"}},{"accession":"0001493152-26-022135","ticker":"RIME","company_name":"Algorhythm Holdings, Inc.","filed_at":"2026-05-11T23:59:59+00:00","headline":"Algorhythm Holdings misses $1.5M note payment, enters forbearance with SemiCab until June 16","event_type":"debt","sec_items":["1.01","9.01"],"materiality_score":0.7,"calibrated_materiality_score":0.7,"match_reasons":["same fact type: material_agreement","same SEC item: 1.01, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-26-022135","json":"https://secwatch.observer/filing/0001493152-26-022135.json","markdown":"https://secwatch.observer/filing/0001493152-26-022135.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/923601/000149315226022135/0001493152-26-022135-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/923601/000149315226022135/form8-k.htm"},"side_by_side_evidence":{"fact_type":"material_agreement","source_excerpt":"Effective May 4, 2026, certain German subsidiaries (the “ Loan Parties ”) of Mercer International Inc. (the “ Company ”) entered into a Waiver and Consent Request Letter (the “ Waiver ”) with respect to that certain revolving facility agreement dated September 15, 2022","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1333274/000119312526212050/0001193125-26-212050-index.htm","comparable_excerpt":"Promissory Note”) to SemiCab Inc., a Delaware corporation (the “Seller”), pursuant to an equity purchase agreement\n(the “Equity Purchase Agreement”) among the Company and its subsidiary, SemiCab Holdings, LLC, a Nevada limited liability","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/923601/000149315226022135/0001493152-26-022135-index.htm"}},{"accession":"0000008947-26-000108","ticker":"AZZ","company_name":"AZZ INC","filed_at":"2026-05-08T23:59:59+00:00","headline":"AZZ refinances revolver; maturity extended to 2029, margins cut 50 bps","event_type":"debt","sec_items":["1.01","2.03","9.01"],"materiality_score":0.65,"calibrated_materiality_score":0.65,"match_reasons":["same fact type: material_agreement","same SEC item: 1.01, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0000008947-26-000108","json":"https://secwatch.observer/filing/0000008947-26-000108.json","markdown":"https://secwatch.observer/filing/0000008947-26-000108.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/8947/000000894726000108/0000008947-26-000108-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/8947/000000894726000108/azz-20260507.htm"},"side_by_side_evidence":{"fact_type":"material_agreement","source_excerpt":"Effective May 4, 2026, certain German subsidiaries (the “ Loan Parties ”) of Mercer International Inc. (the “ Company ”) entered into a Waiver and Consent Request Letter (the “ Waiver ”) with respect to that certain revolving facility agreement dated September 15, 2022","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1333274/000119312526212050/0001193125-26-212050-index.htm","comparable_excerpt":"On May 7, 2026, AZZ Inc. (the \" Company \") entered into the Seventh Amendment to its existing Credit Agreement referenced below with Wells Fargo Bank, N.A. (“ Wells Fargo ”), as Administrative Agent and Collateral Agent and the requisite lenders (the \" Seventh Amendment\" ).","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/8947/000000894726000108/0000008947-26-000108-index.htm"}},{"accession":"0001104659-26-057953","ticker":"ILPT","company_name":"Industrial Logistics Properties Trust","filed_at":"2026-05-08T23:59:59+00:00","headline":"ILPT Mountain JV closes $1.62B loan at 5.71% fixed, repays $1.6B existing debt","event_type":"debt","sec_items":["1.01","1.02","2.03","9.01"],"materiality_score":0.7,"calibrated_materiality_score":0.7,"match_reasons":["same fact type: material_agreement","same SEC item: 1.01, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-057953","json":"https://secwatch.observer/filing/0001104659-26-057953.json","markdown":"https://secwatch.observer/filing/0001104659-26-057953.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1717307/000110465926057953/0001104659-26-057953-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1717307/000110465926057953/tm2613865d1_8k.htm"},"side_by_side_evidence":{"fact_type":"material_agreement","source_excerpt":"Effective May 4, 2026, certain German subsidiaries (the “ Loan Parties ”) of Mercer International Inc. (the “ Company ”) entered into a Waiver and Consent Request Letter (the “ Waiver ”) with respect to that certain revolving facility agreement dated September 15, 2022","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1333274/000119312526212050/0001193125-26-212050-index.htm","comparable_excerpt":"and then terminated the agreement governing the floating rate mortgage loan in accordance with its terms and without penalty.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1717307/000110465926057953/0001104659-26-057953-index.htm"}}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}