Mercer International strikes restructuring deal to cut senior note debt by 88%
Bitget2026/11/02 23:50- Mercer International entered a restructuring agreement backed by holders of more than 87% of Senior Notes and a majority of shareholders.
- Approximately $1.1 billion of Senior Notes will be exchanged for equity, reducing existing Senior Note debt by approximately 88%.
- A fully backstopped rights offering of new senior secured notes will provide $400 million in new capital.
- Implementation through prepackaged Chapter 11 cases is expected to finish by year-end 2026, subject to regulatory approvals and customary conditions.
- Existing shareholders will receive 8.5% of new common stock and 3.5% of new convertible preferred stock, subject to dilution.
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