First Quantum Minerals Inc. closes C$2.2 billion senior bond offering

March 16, 2017

First Quantum Minerals Inc. (First Quantum) closed an offering (the Offering) of C$2.2 billion, comprised of C$1.1 billion of Senior Notes due 2023 and C$1.1 billion of Senior Notes due 2025. Interest on the 2023 notes will accrue at a rate of 7.25% per annum and interest on the 2025 notes will accrue at a rate of 7.50% per annum.

First Quantum intends to use the proceeds of the Offering to refinance First Quantum’s existing senior notes due 2019 and 2020 by way of a tender offer and redemption, fully repay (without cancelling) the Company's revolving debt, repay a portion of First Quantum’s term debt, repay certain other senior debt and pay fees associated with the offering with the remainder of the proceeds being used for general corporate purposes.

Fasken Martineau acted as counsel to First Quantum with a team that included Reena Modha, Jodi Katz and Thomas Wexler and acted as Canadian counsel to First Quantum on the Offering with a team that included Sarah Gingrich, Georald Ingborg, Sandra Malcolm and Perry Feldman.