Methanex Corporation
TSX : MX
NASDAQ : MEOH

Methanex Corporation

December 11, 2014 17:00 ET

Methanex Renews US$400 Million Credit Facility

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 11, 2014) - Methanex Corporation (TSX:MX)(NASDAQ:MEOH) announced today that it has renewed its $400 million revolving credit facility with a syndicate of banks. The renewed facility expires in December 2019 and replaces the company's existing revolving facility, which would have expired in December 2016. RBC Capital Markets was the Arranger for the facility.

Ian Cameron, SVP Finance and CFO of Methanex, commented, "Consistent with our prudent approach to financial management, we are committed to maintaining strong liquidity". Mr. Cameron added, "With cash balances of $475 million at the end of the third quarter, cash proceeds from the recent $600 million bond issuances and this undrawn $400 million credit facility, we believe we are well positioned to meet our financial commitments and invest to grow the company."

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 Market in the United States under the trading symbol "MEOH".

FORWARD-LOOKING INFORMATION WARNING

This press release contains certain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information under applicable British Columbia securities law. The forward-looking statements in this news release include statements concerning Methanex's ability to meet its financial commitments and to grow the company.

Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Methanex to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that may cause actual results to vary include, but are not limited to, risks relating to conditions in 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 the annual information form of Methanex and in its public filings with Canadian securities administrators and the U.S. Securities and Exchange Commission. Such forward-looking statements only speak as of the date of this press release and Methanex does not assume the obligation to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

Contact Information

  • Sandra Daycock
    Director, Investor Relations
    Methanex Corporation
    604-661-2600 or Toll Free: 1 800 661 8851
    www.methanex.com