This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Mercer International Inc. Announces Early Tender Results And Receipt Of Consents From A Majority Of Holders Of Its 9.25% Senior Notes Due 2013

NEW YORK, Nov. 17, 2010 (GLOBE NEWSWIRE) -- Mercer International Inc. (Nasdaq:MERC) (TSX:MRI.U) (the "Company") today announced that, as part of its previously announced cash tender offer and consent solicitation (the 'Tender Offer and Consent Solicitation") for any and all of its outstanding 9.25% Senior Notes due 2013 (the 'Notes"), it has received tenders and consents for approximately $289 million aggregate principal amount of the Notes, representing approximately 93.2% in principal amount of the outstanding Notes, which were validly tendered by 5:00 p.m., New York City time, on November 16, 2010 (the "Consent Date"). The Company has reserved the right (and expects, subject to the satisfaction of the conditions set forth in the Offer to Purchase) to accept for purchase and settle all Notes validly tendered prior to the Consent Date on or about November 17, 2010.

The consents are sufficient to give effect to all of the proposed amendments (the "Proposed Amendments") to the indenture governing the Notes (the "Indenture") as set forth in the Company's Offer to Purchase and Consent Solicitation Statement dated November 2, 2010 (the "Offer to Purchase") and the related Letter of Transmittal, pursuant to which the Tender Offer and Consent Solicitation are being made. The Proposed Amendments eliminate substantially all of the restrictive covenants, certain events of default and related provisions in the Indenture. The Company has executed a supplemental indenture (the "Supplemental Indenture") containing the Proposed Amendments to the Indenture. The Supplemental Indenture is binding on all holders of Notes, even those whose Notes are not purchased in the Tender Offer and Consent Solicitation. Following the execution of the Supplemental Indenture, tendered Notes and related consents may no longer be withdrawn.     

Holders who have not yet tendered their Notes may tender until 11:59 p.m., New York City time, on December 1, 2010, unless the Tender Offer and Consent Solicitation is extended or terminated by the Company. The completion of the Tender Offer and Consent Solicitation is subject to the satisfaction or waiver by the Company of a number of conditions, as described in the Offer to Purchase, including the consummation of the Company's pending financing transaction.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.64 -0.11%
FB $118.57 0.84%
GOOG $698.21 0.75%
TSLA $241.80 0.43%
YHOO $36.53 -0.19%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs