Mercer International Inc. announces completion of a new €300 million sustainability-linked term revolving credit facility

NEW YORK, NY, September 16, 2022

Mercer International Inc., or “Mercer”, (Nasdaq: MERC) today  announced that it has successfully entered into a new €300 million revolving credit facility for its German  subsidiaries with a syndicate of European banks (the “New Facility”). The New Facility has a five year term, is  unsecured and accrues interest at a rate of Euribor plus a stipulated margin.  

The New Facility is “sustainability linked” whereby if certain sustainability targets are achieved, there is  a reduction in the applicable interest rate. The sustainability-linked feature is consistent with Mercer’s long term  ESG objectives as validated by the Science Based Targets Initiative.  

The New Facility is available to Mercer’s German operating subsidiaries, including after closing of its  acquisition, HIT Holzindustrie Torgau GmbH & Co. KG and replaces Mercer’s current €200 million revolving  credit facility.  

In connection with the New Facility, Mercer was represented by Sangra Moller LLP.  

Mercer International Inc. is a global pulp manufacturing company. To obtain further information on the  company, please visit its web site at https://www.mercerint.com.  

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.  Words such as “expects”, “anticipates”, “are optimistic that”, “projects”, “intends”, “designed”, “will”,  “believes”, “estimates”, “may”, “could” and variations of such words and similar expressions are intended to  identify such forward‐looking statements. 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.

APPROVED BY: 

Jimmy S.H. Lee
Executive Chairman
(604) 684-1099 

Juan Carlos Bueno
Chief Executive Officer
(604) 684-1099

Contact

For more information, please contact:

Name: David K. Ure
Title: Senior VP Finance, CFO & Secretary
Phone: (604) 684-1099
email: [email protected]