First Quantum Minerals Announces Completion of $1,500 Million Senior Notes Offering

Executive Summary

• First Quantum Minerals Ltd. completed a $1.5 billion senior notes offering (6.375% due 2036).
• Proceeds will be used to fully redeem $1.35 billion of existing 9.375% senior secured second‑lien notes due 2029, repay drawn revolving credit facility amounts, and cover transaction fees and expenses.
• The redemption of the prior 9.375% notes has been completed in full.

Key Details

• Offering Size: $1,500 million aggregate principal amount.
• Instrument: Senior unsecured notes, guaranteed by certain subsidiaries.
• Interest Rate & Maturity: 6.375% per annum, due 2036; interest payable semi‑annually.
• Use of Proceeds:
• Redeem in full $1,350 million aggregate principal amount of existing 9.375% senior secured second‑lien notes due 2029.
• Repay certain drawn amounts under the company’s revolving credit facility.
• Pay transaction fees, costs and related expenses.
• Redemption Completed: Prior 9.375% senior secured second‑lien notes (Rule 144A ISIN US335934AV79; CUSIP 335934AV7; Reg S ISIN USC3535CAQ18; CUSIP C3535CAQ1) fully redeemed for $1,350 million principal.
• Guarantee: Notes are senior unsecured obligations of First Quantum and guaranteed by designated subsidiaries.

Notable Quotes

(No executive quotes were included in the release.)