Methanex Announces Offering of Senior Unsecured Notes
Methanex 's subsidiary, Methanex US Operations Inc., has launched a US$500 million senior unsecured notes offering due 2032. The notes will be guaranteed by Methanex and the proceeds will partially fund the previously announced OCI Global's international methanol business acquisition. The notes include a special mandatory redemption clause if the OCI Acquisition isn't completed by May 31, 2026, or if Methanex announces it won't proceed. The offering is to qualified institutional buyers in the US under Rule 144A, non-U.S. persons under Regulation S, and through private placement in Canada.
La sussidiaria di Methanex, Methanex US Operations Inc., ha avviato un'offerta di note senior non garantite del valore di 500 milioni di dollari USA con scadenza nel 2032. Le note saranno garantite da Methanex e il ricavato finanzierà parzialmente l'
La subsidiaria de Methanex, Methanex US Operations Inc., ha lanzado una oferta de notas senior no garantizadas por 500 millones de dólares estadounidenses con vencimiento en 2032. Las notas estarán garantizadas por Methanex y los ingresos financiarán parcialmente la adquisición del negocio internacional de metanol de OCI Global previamente anunciada. Las notas incluyen una cláusula de redención obligatoria especial si la adquisición de OCI no se completa antes del 31 de mayo de 2026, o si Methanex anuncia que no procederá. La oferta está dirigida a compradores institucionales calificados en EE. UU. bajo la Regla 144A, a personas no estadounidenses bajo la Regulación S y a través de colocaciones privadas en Canadá.
Methanex의 자회사인 Methanex US Operations Inc.가 2032년 만기인 5억 달러의 무담보 장기채권 발행을 시작했습니다. 이 채권은 Methanex가 보증하며, 수익금은 이전에 발표된 OCI Global의 국제 메탄올 사업 인수를 부분적으로 자금 지원하는 데 사용됩니다. 이 채권에는 OCI 인수 소식이 2026년 5월 31일까지 완료되지 않거나 Methanex가 진행하지 않겠다고 발표하는 경우 특별 의무 상환 조항이 포함되어 있습니다. 이 제안은 미국 내 자격을 갖춘 기관 투자자에게는 규칙 144A에 따라, 비미국인에게는 규정 S에 따라, 캐나다에서는 사모 증권으로 정해진 대로 배포됩니다.
La filiale de Methanex, Methanex US Operations Inc., a lancé une offre de 500 millions de dollars d'obligations seniors non garanties arrivant à échéance en 2032. Les obligations seront garanties par Methanex et les produits financeront en partie l'
Die Tochtergesellschaft von Methanex, Methanex US Operations Inc., hat ein Angebot für unbesicherte senior Notes im Wert von 500 Millionen US-Dollar mit Fälligkeit im Jahr 2032 gestartet. Die Notes werden von Methanex garantiert, und die Erlöse werden teilweise zur Finanzierung des zuvor angekündigten Erwerbs des internationalen Methanolgeschäfts von OCI Global verwendet. Die Notes enthalten eine spezielle Pflicht zum Rückkauf, wenn die OCI-Akquisition bis zum 31. Mai 2026 nicht abgeschlossen ist oder wenn Methanex ankündigt, dass es nicht weiterverfolgt wird. Das Angebot richtet sich an qualifizierte institutionelle Käufer in den USA gemäß Regel 144A, an Nicht-US-Personen gemäß Regulation S und wird über eine Privatplatzierung in Kanada angeboten.
- Secured $500 million in financing through senior unsecured notes
- Strategic expansion through acquisition of OCI Global's international methanol business
- Increased debt burden with new $500 million notes offering
- Special mandatory redemption clause adds uncertainty to the financing
Insights
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The debt issuance demonstrates strong institutional confidence in Methanex's growth strategy and financial health. With a market cap of
VANCOUVER, British Columbia, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH) (“Methanex”) announced today that its wholly-owned subsidiary, Methanex US Operations Inc., has launched an offering of US
The notes will be subject to a special mandatory redemption if either (1) the OCI Acquisition is not completed within the time period required by the related acquisition agreement, as it may be extended (but in no event later than May 31, 2026) or (2) Methanex publicly announces that it will not proceed with the OCI Acquisition for any reason, as further described in the terms of the notes.
The notes have not been and will not be registered under the Securities Act, or the securities laws of any other jurisdiction and may not be offered or sold in the United States or to or for the account or benefit of any U.S. persons absent registration under the Securities Act or an applicable exemption from the registration requirements thereof. The notes will be offered and sold only to qualified institutional buyers in the United States in accordance with Rule 144A under the Securities Act and outside of the United States to non-U.S. persons in reliance on Regulation S under the Securities Act. The notes will be offered and sold in Canada on a private placement basis pursuant to certain exemptions from the prospectus requirements of applicable Canadian securities laws.
This news release is for informational purposes only and does not constitute an offer to sell, or the solicitation of an offer to buy, the notes in the United States, in any province of Canada or any other jurisdiction, nor shall there be any sale of the notes in any province or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province or jurisdiction or an exemption therefrom.
About Methanex
Methanex is a Vancouver-based, publicly traded company and is the world’s largest supplier of methanol to major international markets. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol “MX” and on the NASDAQ Global Select Market in the United States under the trading symbol “MEOH”.
Forward-Looking Statements
This news release contains certain forward-looking statements, or forward-looking information, with respect to us and our industry. These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. Statements that include the word “intend”, “will” or other comparable terminology and similar statements of a future or forward-looking nature identify forward-looking statements. More particularly and without limitation, the following are forward-looking statements: the completion of the Offering and the timing thereof; Methanex’s intended use of proceeds to fund a portion of the cash purchase price for the OCI Acquisition; the completion of the OCI Acquisition; and the contingencies surrounding the special mandatory redemption.
Forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. Factors that may cause actual results to vary include, but are not limited to, risks relating to conditions in the financial markets and other risk factors as detailed from time to time in Methanex’s reports filed with Canadian securities administrators and the U.S. Securities and Exchange Commission. Certain of these risks are described in more detail in our 2023 Annual Management’s Discussion and Analysis, Third Quarter 2024 Management’s Discussion and Analysis and in our public filings with Canadian securities administrators and the U.S. Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on forward-looking statements. They are not a substitute for the exercise of one’s own due diligence and judgment. The outcomes implied by forward-looking statements may not occur and we do not undertake to update forward-looking statements except as required by applicable securities laws.
Contact
Sarah Herriott
Director, Investor Relations
Methanex Corporation
604 661 2600 or Toll Free: 1 800 661 8851
FAQ
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