First Quantum Minerals completes $1B senior notes offering

First Quantum Minerals (FQVLF) has completed its offering of $1B aggregate principal amount of 8.000% senior notes due 2033. The Notes are senior unsecured obligations of the Company and are 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 Company will use the gross proceeds from the sale of the Notes, together with cash on balance sheet, to repay a $250.0 million portion of its revolving credit facility, to fund the concurrent partial tender offer for its existing 6.875% senior notes due 2027 and to pay transaction fees, costs and expenses.