Business
Mercer International Inc. Commences Tender Offer for its 6.500% Senior Notes Due 2024
NEW YORK, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Mercer International Inc. (Nasdaq: MERC) today announced that it has commenced a cash tender offer (the "Tender
About this update from Mercer International Inc.
[{"type":"text","content":"NEW YORK, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Mercer International Inc. (Nasdaq: MERC) today announced that it has commenced a cash tender offer (the \"Tender Offer\"), for any and all of its outstanding 6.500% Senior Notes due 2024 (the \"Notes\"). The Tender Offer is made pursuant to an Offer to Purchase and related Notice of Guaranteed Delivery which set forth the terms and conditions of the Tender Offer. The Offer to Purchase more fully sets forth the terms of the Tender Offer. The Notes and other information relating to the Tender Offer are listed in the table below: CUSIPPrincipal Amount NotesNumberOutstandingIssuerConsideration6.500% Senior Notes due 2024588056AU5$250,000,000Mercer International Inc.US$1,018.35(1) (1) Per US$1,000 principal amount of Notes and excluding accrued and unpaid interest, which will be paid in cash in addition to the Consideration, up to the Settlement Date (as defined below) for the Tender Offer. The Tender Offer is scheduled to expire at 5:00 p.m. Eastern Time on January 21, 2021 (the \"Expiration Time\"), unless extended or earlier terminated. The consideration to be paid for each US$1,000 principal amount of the Notes that are validly tendered and not validly withdrawn on or prior to the Expiration Time is US$1,018.35, plus accrued and unpaid interest on the Notes from the last interest payment date up to, but not including, the Settlement Date (as defined herein). Assuming the Tender Offer is not extended, we expect that the Tender Offer will settle and payment will be made on January 26, 2021 (the \"Settlement Date\"), including with respect to Notes tendered pursuant to the guaranteed delivery procedures described in the Offer to Purchase. The Tender Offer is subject to certain conditions, including the receipt by us of net proceeds from one or more new debt financings on terms and conditions satisfactory to us in an amount sufficient to pay for all Notes accepted for payment in the Tender Offer. The Tender Offer is not conditioned on any minimum amount of Notes being tendered. We may amend, extend or, subject to certain conditions and applicable law, terminate the Tender Offer at any time in our sole discretion. We currently intend to issue today a conditional notice of redemption for Notes that are not accepted for purchase under the Tender Offer, at a redemption price of US$1,016.25 per ...