Northwire Canada EditionTuesday, November 10, 2026
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Financings

First Quantum closes $1.5B offering of senior notes

By The Northwire Desk — AI Analysis Feb 26, 2026 · 21:07 FM · 41.35 First Quantum Minerals Ltd.
FM · Price

Executive Summary

  • First Quantum Minerals Ltd. completed a $1.5 billion senior unsecured notes offering (6.375% interest, 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 amounts under its revolving credit facility, and cover transaction fees and related expenses.
  • The redemption of the prior 9.375% notes has been finalized, eliminating that outstanding principal obligation.

Key Details

  • Offering Size: $1.5 billion aggregate principal amount.
  • Interest Rate: 6.375% per annum, payable semi‑annually.
  • Maturity: Senior unsecured notes due 2036.
  • Guarantee: Notes are guaranteed by certain subsidiaries of First Quantum Minerals Ltd.
  • Use of Proceeds:
  • Redeem in full $1.35 billion aggregate principal amount of existing 9.375% senior secured second‑lien notes due 2029.
  • Repay drawn amounts under the company’s revolving credit facility.
  • Pay transaction fees, costs and other expenses associated with the offering.
  • Redemption Completed: The previously announced redemption of the 9.375% senior secured second‑lien notes (aggregate $1.35 billion) has been fully executed.

Notable Quotes

(No executive quotes were provided in the release.)

Read the original news release →

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Earnings