NEW YORK, May 16, 2011 (GLOBE NEWSWIRE) -- Mercer International Inc. (Nasdaq:MERC) (TSX:MRI-U) (the "Company") today announced that it intends to redeem all of its 8.5% Convertible Senior Subordinated Notes due 2012 (CUSIP 588056AK7) (the "Notes"), of which $37,008,608 in aggregate principal amount remain outstanding. A notice of redemption (the "Redemption Notice") pursuant to the terms of the indenture governing the Notes (the "Indenture") is being distributed by Wells Fargo Bank, National Association, the trustee under the Indenture. The Redemption Notice stipulates a redemption date of July 15, 2011 (the "Redemption Date"), and a redemption price of 100.00 percent of the principal amount of Notes redeemed, plus accrued and unpaid interest to, but not including, the Redemption Date. The Notes may continue to be converted into shares of the Company's common stock up until the Redemption Date at a conversion price of $3.30 per share.
Questions regarding this redemption should be directed to Wells Fargo Bank, National Association by telephone at (800) 344-5128 or by facsimile at (612) 667-6282. This news release is for information purposes only and is not an offer to buy any securities.
Mercer International Inc. is a global pulp manufacturing company. To obtain further information on the company, please visit its web site at . Information found on the Company's website is not incorporated herein by reference.
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The preceding includes forward-looking statements which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecasted in these 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.
CONTACT: Jimmy S.H. Lee Chairman & President (604) 684-1099 David M. Gandossi Executive Vice-President & Chief Financial Officer (604) 684-1099