IFLR1000

First Quantum Minerals $2.2 billion 7.25% and 7.5% high yield issues

29/3/2017
High-yield bond/note issue
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$ 2.2 billion

Completed

29/3/2017

Overview:

  • Mining and metals company First Quantum Minerals has made a $2.2 billion high yield issue.
  • The offering consisted of $1.1 billion 7.5% notes due 2023 and $1.1 billion 7.25% notes due 2025.
  • First Quantum concurrently offered to purchase $350 million of its notes due 2019 and $1.1 billion of its notes due 2020.
  • The proceeds will be used for a variety of purposes, including for refinancing and for the notes repurchases.
  • The initial purchasers were BNP Paribas, Barclays, JPMorgan, Citigroup, Crédit Agricole, Credit Suisse, ING, RBC Capital Markets, Société Générale, Standard Chartered, Natixis, Nedbank and Rand Merchant Bank.

Kurt Stumpo - Journalist

Jurisdiction:

Canada

Deal type:

High-yield bond/note issue

Practice area:

Capital markets : High yield

Governing law:

Canada

Industry sector:

Mining

Firms:
Shearman & Sterling

Party: BNP Paribas (Initial purchaser)

Party: Barclays (Initial purchaser)

Party: JP Morgan (Initial purchaser)

Party: Citigroup (Initial purchaser)

Party: Crédit Agricole Corporate and Investment Bank (Initial purchaser)

Party: Credit Suisse (Initial purchaser)

Party: ING (Initial purchaser)

Party: RBC Capital Markets (Initial purchaser)

Party: Société Générale (Initial purchaser)

Party: Standard Chartered Bank (Initial purchaser)

Party: Natixis (Initial purchaser)

Party: Nedbank (Initial purchaser)

Party: Rand Merchant Bank (RMB) (Initial purchaser)

Sidley Austin

Party: First Quantum Minerals (Issuer)

Walder Wyss

Party: First Quantum Minerals (Issuer)

Lawyer: Thomas Müller

Waselius

Party: First Quantum Minerals (Issuer)

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