05:36 AM EDT, 10/24/2024 (MT Newswires) -- Mercer International ( MERC ) said Wednesday that it priced its private offering of $200 million of 12.875% senior notes due Oct. 1, 2028, at 103% of their principal amount.

These are being offered as additional notes under an existing indenture dated Sept. 21, 2023, under which the company previously issued $200 million of notes.

The company said it plans to use the net proceeds, along with cash on hand, to redeem $300 million of its outstanding 5.5% senior notes due 2026.

The offering of the additional notes is expected to close on or around Oct. 30.