Mercer International Files for Chapter 11 Bankruptcy Protection

Mercer International Inc., a global forest products company, has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas. The company, along with its debtor affiliate, attributes its distress to near-term debt maturities, an expansion funded partly with new debt, weak pulp markets, rising fiber and energy costs, adverse currency movements, and geopolitical and trade uncertainty. The filing aims to cut total funded debt and reduce annual cash interest expense.