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Mercer International Inc. (Nasdaq:MERCS, Easdaq:MERC GR) announced today that a joint venture led by Mercer has accepted the offer from Bayerische Hypo- und Vereinsbank AG to act as the lead financial arranger and underwriter on the credit facilities for the Stendal pulp mill project to construct a 550,000-tonne Northern Bleached Softwood Kraft pulp facility.Financial close is expected to occur in the first quarter of 2002, as previously announced, pending the completion of certain terms and conditions for the facility, including completion of amendments to the permitting process, the receipt of confirmation of government grants and loan guarantees and other documentation customary to a syndicated loan. At financial close Mercer's ownership position in the joint venture will be 57.5%, as previously announced. Its partners, TESSAG Indsutrie-Anlagen GmbH and AIG Altmark-Industrie AG, will own 29.4% and 13.1%, respectively.