Mercer International Begins Prepackaged Chapter 11 Restructuring
Mercer and a non-operating subsidiary filed voluntary prepackaged Chapter 11 cases to implement a recapitalization backed by holders of more than 88% of specified notes. Mercer expects to reduce senior note debt by approximately 88% and eliminate more than $100 million in annual cash interest.
Mercer and one non-operating subsidiary commenced voluntary prepackaged Chapter 11 cases to implement a recapitalization backed by holders of more than 88% of specified notes. Mercer expects to reduce senior note debt by approximately 88% and eliminate more than $100M in annual cash interest.Materi…