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Financings

First Quantum prices notes of $1B (U.S.) offering

By The Northwire Desk — AI Analysis Aug 07, 2025 · 04:32 FM · 22.95 First Quantum Minerals Ltd.
FM · Price

Executive Summary

  • First Quantum Minerals completed pricing of a $1.0 billion senior notes offering, up‑sized from the originally planned $750 million.
  • The notes carry a 7.250% coupon, mature in 2034, and were priced at 100.00% of par.
  • Proceeds will be used to fund a tender offer for existing 6.875% senior notes due 2027, refinance part of the 9.375% senior secured second‑lien notes due 2029, and cover related transaction costs.

Key Details

  • Aggregate principal amount: $1.0 billion (up from $750 million).
  • Coupon rate: 7.250% per annum, payable semi‑annually.
  • Maturity: 2034.
  • Issue price: 100.000% of par (U.S. dollars).
  • Settlement date: Expected on or about August 20, 2025, subject to customary conditions precedent.
  • Security: Senior unsecured obligations; guaranteed by certain subsidiaries of First Quantum Minerals Ltd.
  • Use of proceeds:
  • Finance tender offer for existing 6.875% senior notes due 2027.
  • Refinance a portion of existing 9.375% senior secured second‑lien notes due 2029.
  • Pay related fees, costs, and expenses associated with the offering.

Notable Quotes

No executive quotes were included in the release.

Read the original news release →

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