Business
CHAMPION IRON ANNOUNCES UPSIZE AND PRICING OF US$500 MILLION SENIOR NOTES DUE 2032
SYDNEY, June 27, 2025 - Champion Iron Limited (TSX: CIA) (ASX: CIA) (OTCQX: CIAFF) ("Champion" or the "Company") announces that its wholly owned subsidiary, Champion Iron Canada Inc. (the "Issuer"), priced its offering (the "Offering") of US$500 million aggregate principal amount of senior notes due 2032 (the "Notes") at the issue price of 100.000%. The Offering was upsized from the previously announced US$450 million aggregate principal amount of the Notes. Settlement is expected to take place
About this update from Champion Iron Ltd.
[{"type":"text","content":"MONTRÉAL, June 26, 2025 /CNW/ - SYDNEY, June 27, 2025 - Champion Iron Limited (TSX: CIA) (ASX: CIA) (OTCQX: CIAFF) ("Champion" or the "Company") announces that its wholly owned subsidiary, Champion Iron Canada Inc. (the "Issuer"), priced its offering (the "Offering") of US$500 million aggregate principal amount of senior notes due 2032 (the "Notes") at the issue price of 100.000%. The Offering was upsized from the previously announced US$450 million aggregate principal amount of the Notes. Settlement is expected to take place on or about July 2, 2025, subject to customary conditions precedent.","length":650,"tagName":"p"},{"type":"text","content":"Interest on the Notes will accrue from July 2, 2025 at a rate of 7.875% per annum and will be payable semi-annually. The Notes will be senior unsecured obligations of the Issuer and will be guaranteed by the Company and certain of its subsidiaries. The Notes will not be quoted on ASX or the TSX.","length":296,"tagName":"p"},{"type":"text","content":"The Company intends to use the net proceeds from the Offering to repay the amounts outstanding under its senior credit facilities and for general corporate purposes.","length":165,"tagName":"p"},{"type":"text","content":"The Notes are being offered and sold in the United States only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the United States Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons outside the United States in compliance with Regulation S under the Securities Act. The Notes are being offered and sold in certain Canadian jurisdictions on a private placement basis pursuant to certain prospectus exemptions. The Notes are being offered and sold in Australia only to sophisticated or professional investors within the meaning of sections 708(8) and 708(11) of the Australian Corporations Act 2001 (Cth).","length":698,"tagName":"p"},{"type":"text","content":"The offer and sale of the Notes have not been and will not be registered under the Securities Act, or the securities laws of any state or other jurisdiction, and the Notes may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from the registration requirements of the Securitie...