First Quantum arranges $1.35B (U.S.) note offering

Executive Summary

• First Quantum Minerals Ltd. has launched an offering of $1,350 million in aggregate principal amount of senior notes.
• The proceeds, combined with existing cash, are intended to fully redeem the company's existing 9.375% senior secured second-lien notes due 2029.
• The notes are senior unsecured obligations, guaranteed by certain subsidiaries, with interest payable semi-annually.

Key Details

• Offering Size: $1,350 million aggregate principal amount.
• Instrument Type: Senior unsecured notes (in U.S. dollars).
• Guarantees: Guaranteed by certain subsidiaries of First Quantum Minerals Ltd.
• Interest Terms: Interest accrues from the issue date and is payable semi-annually.
• Pricing: Interest rate and offering price to be determined at the time of pricing, subject to market conditions.
• Use of Proceeds: To finance the full redemption of existing 9.375% senior secured second-lien notes due 2029 and to pay transaction fees, costs, and expenses.