11:36 AM EDT, 10/21/2024 (MT Newswires) -- Mercer International ( MERC ) said Monday it plans to offer $200 million in senior notes due Oct. 1, 2028, to qualified institutional buyers.

The notes will be in addition to the $200 million in 12.875% senior notes it sold under an indenture dated Sept. 21, 2023.

Proceeds from the add-on offering and cash on hand will be used to redeem the company's $300 million in outstanding 5.5% senior notes due 2026, it said. A Nov. 1 redemption date has been set.

Shares of Mercer International ( MERC ) were down nearly 3% in recent trading.

Price: 6.52, Change: -0.18, Percent Change: -2.69