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Mercer International Inc. Announces Commencement of Exchange Offer for Its 9.5% Senior Notes Due 2017 for Registered Notes(March 28, 2011)
NEW YORK, March 28, 2011 (GLOBE NEWSWIRE) -- Mercer International Inc. (Nasdaq:MERC) (TSX:MRI-U) (the "Company") today announced that it has commenced a registered exchange offer to exchange up to $300 million aggregate principal amount of its 9.5% Senior Notes due 2017 which have been registered under the Securities Act of 1933, as amended (the "Registered Notes"), for any and all of its outstanding 9.5% Senior Notes due 2017 which were issued in a private placement (the "Private Notes").
The sole purpose for the exchange offer is to fulfill the obligations of the Company with respect to the registration of the Private Notes. Pursuant to a registration rights agreement entered into by the Company in connection with the sale of the Private Notes, the Company agreed to file with the Securities and Exchange Commission a registration statement relating to the exchange offer pursuant to which the Registered Notes, containing substantially identical terms to the Private Notes, would be offered in exchange for Private Notes that are tendered by the holders of those notes.
Any Private Notes not tendered for exchange in the exchange offer will remain outstanding and continue to accrue interest, but will not retain any rights under the registration rights agreement except in limited circumstances.
The terms of the exchange offer are contained in the exchange offer prospectus.
The exchange offer will expire at 5:00 p.m. New York City Time, on April 26, 2011, unless extended. Private Notes tendered pursuant to the exchange offer may be withdrawn at any time prior to the expiration date by following the procedures set forth in the exchange offer prospectus.
Requests for assistance or for copies of the exchange offer prospectus should be directed to Wells Fargo Bank, National Association, the exchange agent, at 608 2nd Avenue South, 12th Floor, MAC CODE: N9303-121, Minneapolis, Minnesota 55402, Attention: Bondholder Communications, (800) 344-5128.
This press release shall not constitute an offer to sell any securities or a solicitation of an offer to buy any securities. The exchange offer will be made only by means of a written prospectus.
Mercer International Inc. is a global pulp manufacturing company. To obtain further information on the company, please visit its web site at http://www.mercerint.com.
The Mercer International Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5417
The preceding includes forward-looking statements which involve known and unknown risks and uncertainties which may cause our actual results in future periods to differ materially from forecasted results. Among those factors which could cause actual results to differ materially are the following: the highly cyclical nature of our business, raw material costs, our level of indebtedness, competition, foreign exchange and interest rate fluctuations, our use of derivatives, expenditures for capital projects, environmental regulation and compliance, disruptions to our production, market conditions and other risk factors listed from time to time in our SEC reports.
CONTACT: Jimmy S.H. Lee
Chairman & President
David M. Gandossi
Executive Vice-President &
Chief Financial Officer
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