Mercer International Inc. (MERC), a forest products company, on Monday announced that it intends to offer $200 million of its senior notes, due October 1, 2028.
The additional notes will be issued under an existing indenture, dated September 21, 2023, pursuant to which the company previously issued $200 million, 12.875 percent senior notes due 2028.
Mercer plans to use the net proceeds from the offering, along with cash on hand, to redeem $300 million of its currently outstanding 5.500 percent senior notes due 2026.
In connection with the proposed redemption, Mercer has issued a conditional notice to redeem all of the 2026 senior notes. The redemption date is fixed for November 1, 2024.
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