Mercer International Inc. (MERC), a company specializing in forest products, announced on Monday its intention to issue $200 million in senior notes set to mature on October 1, 2028. These new notes will be released under an existing indenture dated September 21, 2023, from which the company had previously issued $200 million in 12.875 percent senior notes with the same maturity date.
The funds raised from this offering, along with existing cash reserves, will be directed towards the redemption of $300 million of the company's currently outstanding 5.500 percent senior notes, which are due in 2026. In line with this strategic move, Mercer has issued a conditional notice to redeem all the 2026 senior notes, setting the redemption date for November 1, 2024.
