Mercer to price $300 million eight-year notes in Wednesday drive-by

By Paul A. Harris

Portland, Ore., Dec. 6 – Mercer International Inc. plans to price a $300 million offering of eight-year senior notes (B1/BB-) in a quick-to-market Wednesday trade following a late-morning conference call with investors, according to a syndicate source.

Credit Suisse Securities (USA) LLC, Barclays and RBC Capital Markets LLC are joint bookrunners for the Rule 144A and Regulation S with registration rights offering.

The notes become callable after three years at par plus 50% of the coupon and feature a three-year 35% equity clawback and a 101% poison put.

The Vancouver, B.C.-based pulp producer plans to use the proceeds to refinance its 7¾% senior notes due 2022.

Mercer International maintains its U.S. headquarters in Seattle.

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