Mercer International Plans Chapter 11 Filing with $1.1B Debt Reduction (MERC:NASDAQ)

Mercer International plans Chapter 11 filing with $1.1B debt reduction (MERC:NASDAQ)

Mercer International said it plans to file for Chapter 11 bankruptcy as part of a restructuring that would reduce its debt and bring in $400M of new money through a rights offering.

Mercer International Announces Comprehensive Recapitalization Agreement with Significant Support from Noteholders and Shareholders

The Company Has Entered into an Agreement to Effectuate a Balance Sheet Restructuring Which Will Address $1.275 Billion of Senior Notes and Provide $400 Million of Fully Backstopped New Capital to Position Mercer for Long-Term Success