Business
Capstone Mining Announces Launch of $300 million Senior Notes Offering
(All amounts in US$ unless otherwise specified) VANCOUVER , Sept. 5, 2014 /CNW/ - Ca...
About this update from Capstone Copper Corp.
[{"type":"text","content":"\n\n\n(All amounts in US$ unless otherwise specified)\n\n\nVANCOUVER, Sept. 5, 2014 /CNW/ - Capstone Mining Corp. (\"Capstone\") (TSX: CS) today announced that it\n intends to offer $300 million of Senior Notes maturing in 2022 (the\n \"Notes\"), subject to market and other customary conditions. Capstone\n intends to use the net proceeds of the Notes to repay borrowings under\n its existing credit facilities. Citigroup is Lead Underwriter and Joint\n Global Co-ordinator, and Wells Fargo Bank is Joint Global Co-ordinator\n for the Notes.\n\n\nIn conjunction with the closing of the Notes, Capstone has arranged for\n a new $300 million Senior Secured Revolving Credit Facility (\"SSRCF\")\n to replace its existing $200 million senior secured corporate revolving\n term facility and $200 million senior secured reducing revolving\n corporate credit facility. Lenders in the new SSRCF include the Bank of\n Nova Scotia (Lead Arranger and Administrative Agent), Canadian Imperial\n Bank of Commerce (Syndication Agent), Citigroup, Wells Fargo Bank, Bank\n of Montreal, Export Development Bank and Mizuho Bank. The new SSRCF has\n a four year term, maturing in September 2018, with an interest rate of\n US LIBOR plus 2.25% (adjustable in certain circumstances) and a standby\n fee of 0.51% on the undrawn balance of the facility. \n\n\nThe Notes will be offered and sold in the United States only to\n qualified institutional buyers in accordance with Rule 144A under the\n United States Securities Act of 1933, as amended (the \"Securities\n Act\"), and outside the United States in reliance on Regulation S under\n the Securities Act. The Notes will be offered and sold in Canada on a\n private placement basis pursuant to certain prospectus exemptions.\n\n\nThe offer and sale of the Notes will not be registered under the\n Securities Act and the Notes may not be offered or sold in the United\n States absent registration or an applicable exemption from the\n registration requirements of the Securities Act and applicable state\n securities laws. This news release shall not constitute an offer to\n sell or the solicitation of an offer to buy the Notes, nor shall there\n be any offer or sale of the Notes in any jurisdiction in which such\n offer, solicitation or sale would be unlawful.\n\n\nAbout Capstone Mining Corp.\n\n\nCapstone Mining Corp. is a C...