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Mercer International Inc prices USD25.0m add-on offering of senior notes

Mar 17, 2017 (M2 EQUITYBITES via COMTEX) --

Pulp manufacturing company Mercer International Inc (TSX:MERC.U) said on Thursday that it has priced its offering of an additional USD25.0m aggregate principal amount of 6.500% senior notes due 2024.

The company said the additional notes are being issued at a price of 100% of their principal amount, plus accrued interest, if any, from 3 February 2017.

Net proceeds from the offering, along with cash on hand, will be used to finance the company's acquisition of substantially all of the assets comprising a sawmill and bio-mass power plant located near Friesau, Germany as well as for general working capital purposes.

Previously, the company said it had issued USD225m aggregate principal amount of 6.500% senior notes due 2024 (existing notes). The additional notes will have the same CUSIP number as, and are expected to be fully fungible with, rank equally with and form a single series with, the existing notes.

This offering of the additional notes is expected to close on or around 27 March 2017, subject to the satisfaction of customary closing conditions.

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