First Quantum Minerals Ltd. (TSX: FM) announced that it has successfully completed the pricing of its offering of $1,300 million aggregate principal amount of 8.625% Senior Notes due 2031. The original offering amount of the Notes of $1,000 million has been increased to $1,300 million. The issue price of the Notes is 100.000%.
Interest on the Notes will accrue from the issue date at a rate of 8.625% per annum and will be payable semi-annually. Settlement is expected to take place on or about May 30, 2023, subject to customary conditions precedent for similar transactions. The Notes will be senior unsecured obligations of the Company and will be guaranteed by certain of the Company’s subsidiaries.
The Company intends to apply the gross proceeds from the sale of the Notes towards (i) the repayment of $970 million aggregate principal amount under the Company’s existing revolving credit facility, (ii) the redemption of $300 million aggregate principal amount of the Company’s outstanding Senior Notes due 2025 and (iii) a portion of the fees and expenses associated with the Offering.
The information in this announcement does not constitute an offer of securities for sale in the United States or any other jurisdiction. Securities may not be offered or sold in the United States unless they are registered or are exempt from the registration of the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”). The Notes will not be registered under the U.S. Securities Act, or the securities laws of any state of the U.S. or other jurisdictions and the Notes will not be offered or sold within the U.S. or to, or for the account or benefit of, U.S. Persons (as defined in Regulation S of the U.S. Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and the applicable laws of other jurisdictions. The Company does not intend to conduct a public offering in the United States or any other jurisdiction. It may be unlawful to distribute this announcement in certain jurisdictions.
The information in this announcement does not constitute an offer, or a solicitation of an offer, of securities for sale in the United States, Canada, the EEA, the UK, Switzerland, Panama, Hong Kong, Japan, Singapore, or any other jurisdiction in which such an offer, solicitation or sale is not permitted.
In member states of the EEA or the UK, this announcement and any offer of securities if made subsequently is directed only at persons who are “qualified investors” as defined in Regulation (EU) 2017/1129 (as amended and superseded). Any person in the EEA or the UK who acquires securities in any offer of securities or to whom any offer of securities is made will be deemed to have represented and agreed that it is a Qualified Investor. Any investor will also be deemed to have represented and agreed that any securities acquired by it in the offer have not been acquired on behalf of persons in the EEA or the UK other than Qualified Investors or persons in the UK and other Member States for whom the investor has authority to make decisions on a wholly discretionary basis, nor have the securities been acquired with a view to their offer or resale in the EEA or the UK to persons where this would result in a requirement for publication by the Company of a prospectus pursuant to the Prospectus Regulation. The Company and others will rely upon the truth and accuracy of the foregoing representations and agreements. This announcement constitutes a public disclosure of inside information by the Company under Regulation (EU) 596/2014 (16 April 2014). References to Regulations or Directives include, in relation to the UK, those Regulations or Directives as they form part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 or have been implemented in UK domestic law, as appropriate.
This communication is only directed at (i) persons having professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended, (the “Order”), or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order, or (iii) persons to whom it would otherwise be lawful to distribute to or direct at, all such persons together being referred to as “relevant persons”. The Notes are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with relevant persons. Any person who is not a relevant person should not act or rely on this communication or any of its contents.
This announcement is not, and under no circumstances is to be construed as, a prospectus, an advertisement or a public offering of the securities referred to herein in Canada. No securities commission or similar regulatory authority in Canada has reviewed or in any way passed upon this announcement or the merits of the securities referred to herein, and any representation to the contrary is an offence.
American Lithium Corp. (TSX-V:LI) (NASDAQ:AML) (Frankfurt:5LA1) a... READ MORE
Treasury Metals Inc. (TSX: TML) (OTCQX: TSRMF) is pleased to anno... READ MORE
Results continue to confirm the existence and continuity o... READ MORE
Adventus Mining Corporation (TSX-V: ADZN) (OTCQX: ADVZF) and Salazar Res... READ MORE
Madison Metals Inc. (CSE: GREN) (OTCQB: MMTLF) is pleased to anno... READ MORE