Mercer (NASDAQ:MERCS)
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Mercer International Inc. Prices Offering of 9,416,196 Shares of
Beneficial Interest and $310.0 Million Offering of Senior Notes
NEW YORK, Feb. 9 /PRNewswire-FirstCall/ -- Mercer International Inc. ("Mercer"
or the "Company") (Nasdaq: MERCS; TSX: MRI.U) announced today that the public
offering of 9,416,196 of its shares of beneficial interest was priced at $8.50
per share for gross proceeds of approximately $80.0 million. Mercer has granted
the underwriters an option for 30 days to purchase up to an additional
1,412,429 shares at the public offering price to cover over-allotments, if any.
Mercer today also priced a separate public offering of $310.0 million of senior
notes. The notes will pay interest at a rate of 9.25% per annum and mature in
2013.
The net proceeds from the offering of the shares and senior notes and cash on
hand will be utilized to pay the cash portion of the purchase price of the
previously announced acquisition of the Celgar pulp mill and its working
capital, transaction costs, repay all of the bank indebtedness of the Company's
Rosenthal pulp mill and for general corporate purposes, including working
capital.
RBC Capital Markets is the lead manager of the offering of the shares of
beneficial interest, with CIBC World Markets, Raymond James & Associates and
D.A. Davidson & Co. serving as co-managers. RBC Capital Markets and Credit
Suisse First Boston are joint book-running managers of the senior note offering
with CIBC World Markets serving as co-manager. Each of the offering of the
shares of beneficial interest and the offering of the senior notes may only be
made by means of a prospectus. A copy of the prospectus for the share offering
may be obtained from RBC Capital Market at One Liberty Plaza, New York, NY
10006. A copy of the prospectus for the offering of the senior notes may be
obtained from RBC Capital Markets at One East Weaver Street, Third Floor,
Greenwich, CT 06831.
Mercer
Mercer is a pulp and paper manufacturing company with operations in Europe and,
after the acquisition of the Celgar pulp mill, in Canada. Mercer currently
operates two modern NBSK pulp mills in Germany with an aggregate annual
production capacity of approximately 862,000 tonnes.
The preceding includes forward-looking statements which involve known and
unknown risks and uncertainties which may cause the Company's actual results in
future periods to differ materially from forecasted results. Among those
factors which could cause actual results to differ materially are the
following: market conditions, competition, construction and equipment
performance risks and other risk factors listed from time to time in the
Company's SEC reports.
DATASOURCE: Mercer International Inc.
CONTACT: Jimmy S.H. Lee, Chairman & President, +41-43-344-7070, David M.
Gandossi, Executive Vice-President & Chief Financial Officer, +1-604-684-1099,
both of Mercer; or Investors: Eric Boyriven, or Media: Scot Hoffman, both of
Financial Dynamics, +1-212-850-5600
Web site: http://www.mercerinternational.com/