Business
First Quantum Minerals Announces Cash Tender Offer To Purchase Its Outstanding 9.375% Senior Secured Second Lien Notes Due 2029 In A Maximum Aggregate Principal Amount Of Up To $250 Million
(In United States dollars, except where noted otherwise) TORONTO, Aug. 06, 2025 (GLOBE NEWSWI...
About this update from First Quantum Minerals Ltd.
[{"type":"text","content":"First Quantum Minerals Announces Cash Tender Offer To Purchase Its Outstanding 9.375% Senior Secured Second Lien Notes Due 2029 In A Maximum Aggregate Principal Amount Of Up To $250 Million\n\n\n\n (In United States dollars, except where noted otherwise)\n \n\n TORONTO, Aug. 06, 2025 (GLOBE NEWSWIRE) -- First Quantum Minerals Ltd. (“First Quantum” or the “Company”) (TSX: FM) today announced that it has commenced an offer to purchase for cash (the “Tender Offer”) its outstanding 9.375% Senior Secured Second Lien Notes due 2029 (the “Notes”) in a maximum aggregate principal amount of up to $250,000,000, as further described in the offer to purchase dated the date hereof (the “Offer to Purchase”).\n \n\n As announced by the Company on August 6, 2025, the Company successfully priced and upsized its concurrent offering of $1.0 billion aggregate principal amount of senior notes due 2034 (the “New Notes”). The Company intends to use a portion of the proceeds of such New Notes towards the Offer to Purchase.\n \n\n The Tender Offer will expire at 5:00 pm, New York City time, on September 3, 2025 (such date, as may be extended, the “Expiration Time”). Under the terms of the Tender Offer, holders of the Notes (“Holders”) who validly tender and do not validly withdraw their Notes at or prior to 5:00 p.m., New York City time, on August 19, 2025 (the “Early Tender Time”) will be eligible to receive $1,066.25 per $1,000 principal amount of Notes (the “Total Consideration”), consisting of the Tender Consideration (defined below) plus $50.00 per $1,000 principal amount of Notes (the “Early Tender Premium”). Holders of the Notes who validly tender their Notes after the Early Tender Time, but at or prior to the Expiration Time, will be eligible to receive $1,016.25 per $1,000 principal amount of Notes validly tendered and accepted for purchase pursuant to the Tender Offer (the “Tender Consideration”). Tendered Notes may be withdrawn at any time at or prior to the Early Tender Time, but not thereafter, unless extended.\n \n\n Certain information regarding the Notes and the Tender Offer is set forth in the table below:\n \n\n\n\n\n Issuer\n \n\n\n\n Title of\n \n\n\n Security\n \...