Mercer International Inc. announced that certain Canadian subsidiaries (the "Loan Parties") of Mercer have entered into a new CAD 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 Loan Parties aggregating CAD 100 million. The New Facility has a five year term and availability is based on a borrowing base.

The New Facility is secured by substantially all of the Loan Parties' assets. The New Facility will bear interest at a rate determined by reference to the Prime Rate, the BA Rate, the Base Rate or Adjusted Term SOFR plus a margin, depending on the leverage ratio, as defined in the New Facility.