Methanex Corporation (Nasdaq: MEOH) announced it will partially redeem $300 million of its outstanding 5.125% senior notes due October 15, 2027, with a redemption date of October 19, 2026.

The Vancouver-based methanol producer issued a notice of partial redemption for the notes, according to a press release statement from the company.

President and CEO Rich Sumner attributed the move to the company's cash position and cash flow, stating: "Today's announcement is underpinned by the company's strong cash position and cash flow generation capability, resulting from continued tight global methanol market conditions combined with production from our significantly strengthened asset base, and is aligned with our commitment to progress towards our stated balance sheet leverage target."