Mercer announces redemption of $20.54 million 9¼% senior notes

By Toni Weeks

San Diego, Dec. 20 - Mercer International Inc. said it will redeem all of its 9¼% senior notes due 2013 on Feb. 15, according to a news release.

The redemption, which is for par plus accrued interest, will total $20,543,000 principal amount.

The notes remain outstanding after Mercer's early redemption offer last month, which resulted in the receipt of tenders from holders of 93.2% of the $310 million senior notes before the Nov. 16 deadline. Those holders received $1,023.13, including a $30.00 consent payment, for each $1,000 principal amount.

Mercer is a pulp manufacturing company based in Vancouver, B.C., with U.S. headquarters in Seattle.

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