First Quantum Minerals announces senior notes offering

First Quantum Minerals (FQVLF) is launching an offering of $1,350 million aggregate principal amount of senior notes. The Notes will be senior unsecured obligations of the Company and will be guaranteed by certain of the Company’s subsidiaries. Interest on the Notes will accrue from the issue date and will be payable semi-annually. The interest rate and offering price of the Notes along with certain other terms will be determined at the time of pricing of the offering, subject to market conditions. The Company intends to apply the gross proceeds from the sale of the Notes, together with cash on balance sheet, to fund the full redemption of its existing 9.375% senior secured second lien notes due 2029, and to pay transaction fees, costs and expenses.