Mercer International to launch $300 million eight-year notes via roadshow

By Paul A. Harris

St. Louis, Jan. 12 - Mercer International Inc. will launch its $300 million of eight-year senior notes (B ratings anticipated) in a roadshow beginning late in the week of Feb. 17, according to a syndicate source.

The notes, which will mature in 2013, are expected to price in early February.

RBC Capital Markets and Credit Suisse First Boston are joint bookrunners for the public offering. CIBC World Markets is the co-manager.

The notes will come with four years of call protection and will contain a 35% equity clawback.

The company will also make a concurrent $100 million equity offering.

Proceeds will be used to partially fund the acquisition of the Celgar pulp mill in British Columbia and to refinance existing debt.

Mercer International is a Seattle-based pulp producer, with facilities in Germany and British Columbia.

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