Mercer International (MERC) said Monday it plans to offer $200 million in senior notes due Oct. 1, 2028, to qualified institutional buyers.
The notes will be in addition to the $200 million in 12.875% senior notes it sold under an indenture dated Sept. 21, 2023.
Proceeds from the add-on offering and cash on hand will be used to redeem the company's $300 million in outstanding 5.5% senior notes due 2026, it said. A Nov. 1 redemption date has been set.
Shares of Mercer International were down nearly 3% in recent trading.
Price: 6.52, Change: -0.18, Percent Change: -2.69
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