Methanex Corporation has issued notice to redeem US$300 million of its 5.125% senior notes due October 15, 2027, with the partial redemption scheduled for October 19, 2026. Chief Executive Officer Rich Sumner attributed the decision to strong cash generation, tight global methanol markets and a strengthened production base. The redeemed principal carries approximately US$15.4 million in annual coupon obligations, and completing the payment would eliminate those obligations for the notes' remaining term. Methanex generated US$439 million of operating cash flow in the second quarter, compared with US$132 million in the first quarter, and also repaid the remaining US$290 million of its Term Loan A during the second quarter. As of June 30, cash totaled US$383 million, with an additional US$400 million available under an unused revolving credit facility, though the September announcement did not provide an updated cash balance or specify the redemption price. Separately, on September 1 Methanex announced plans to indefinitely idle its New Zealand facilities in the first quarter of 2027 after agreeing to sell all of its New Zealand natural-gas contractual entitlements.
Methanex CorporationMethanex will redeem $300M of 5.125% notes due 2027, eliminating ~$15.4M in annual coupon obligations using strong cash generation.
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