Methanex $200 million 10-years coming in the "very near term"

By Paul A. Harris

St. Louis, Mo., May 31 - Details will likely be disclosed Monday on Methanex Corp.'s planned offering of US$200 million of 10-year senior notes, according to a syndicate source.

Stipulating that the deal is "very near-term" business, the official declined to confirm or comment further on information from a company press release that came out Friday.

In a filing with the Securities and Exchange Commission Friday, Methanex named Goldman, Sachs & Co. as bookrunner for the offering, adding that CIBC World Markets and RBC Capital Markets will also be included in the syndicate.

Of the $196 million in estimated proceeds, $150 million will be used to redeem the company's 7.40% notes due Aug. 15, 2002 at maturity. The remainder will be used for general corporate purposes.

Vancouver, B.C.-based Methanex says it is the world's largest producer of methanol.

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