Mercer International to sell $500 million eight-year notes on Thursday

By Paul A. Harris

Portland, Ore., Jan. 14 – Mercer International Inc. plans to price a $500 million offering of eight-year senior notes (Ba3/B+) in a Thursday drive-by trailing a mid-morning conference call with investors, according to market sources.

Initial guidance is in the mid-5% area.

Credit Suisse is the left lead bookrunner. Barclays and RBC are the joint bookrunners.

The Rule 144A and Regulation S notes become callable after three years at par plus 50% of the coupon.

The Vancouver, B.C.-based forest products company plans to use the proceeds, along with cash on hand, to refinance all of its outstanding 6½% senior notes due 2024 and to partially redeem its 7 3/8% senior notes due 2025.

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