NEW YORK, Jan. 21, 2022 (GLOBE NEWSWIRE) — Mercer International Inc., or “Mercer”, (Nasdaq: MERC) today announced that certain Canadian subsidiaries (the “Loan Parties”) of Mercer have entered into a new CDN $160 million joint asset-backed revolving credit facility (the “New Facility”) with a syndicate of North American bank lenders. The new facility, which will be used for general corporate purposes, replaces two existing revolving credit facilities of certain of the lending parties totaling C$100 million.

The new facility has a term of five years and its availability is on a borrowing basis. The new facility is secured by substantially all of the assets of the loan parties. The new facility will bear interest at a rate determined by reference to the prime rate, the BA rate, the base rate or the adjusted term SOFR plus a margin, depending on the leverage ratio, as defined in the new facility.

Mercer International Inc. is a global forest products company with operations in Germany and Canada with a consolidated annual production capacity of 2.2 million tonnes of pulp and 550 million board feet of lumber. For more information about the company, please visit its website at https://www.mercerint.com.

The foregoing includes forward-looking statements that involve known and unknown risks and uncertainties that may cause our actual results in future periods to differ materially from expected results. Words such as “expects”, “anticipates”, “plans”, “intends”, “designs”, “will”, “believes”, “estimates”, “may”, “might” and variations of such words and similar expressions are intended to identify such forward-looking statements. Actual results and results may differ materially from what is expressed or anticipated in these forward-looking statements. These statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among the factors that 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, fluctuations in foreign exchange rates and interest, our use of derivative instruments, 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 SH Lee
Executive Chairman
(604) 684-1099

David M. Gandossi
Chief executive officer
(604) 684-1099

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