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Methanex Joint Venture Prices Bond Issuance to Raise $291.0 Million

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Methanex's (MX.TO) 50/50 joint venture with Consolidated Energy has priced an issuance of tax-exempt bonds by Mission Economic Development Corp. with a principal amount of $291.0 million, the company said Thursday.

The bonds have a mandatory tender date of Aug. 1, 2036, and a final maturity date of Aug. 1, 2046. The proceeds will be loaned to the joint venture, Natgasoline LLC, and used to repay an existing $291.0 million municipal bonds set to mature in 2031.

The bond offering is scheduled to close on or about Aug. 28.

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