Interest expense in the first quarter of 2013 decreased to €13.1 million from €14.1 million in the comparative quarter of 2012, primarily due to lower debt levels associated with the Stendal mill in the first quarter of 2013.We recorded a net derivative gain of €4.8 million, which includes a €0.3 million loss related to fixed price pulp swap contracts entered into in the fourth quarter of 2012 and an unrealized gain of approximately €5.1 million on the mark to market adjustment of our Stendal mill's interest rate derivative, compared to an unrealized derivative gain of €0.9 million in the same quarter of last year.
Mercer International Inc. Reports 2013 First Quarter Results
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