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First Quantum Minerals Announces the Increase of the Maximum Tender Amount of Its Cash Tender Offer for Its Outstanding 6.875% Senior Notes Due 2027
(In United States dollars, except where noted otherwise) TORONTO, Feb. 19, 2025 (GLOBE NEWSWI...
About this update from First Quantum Minerals Ltd.
[{"type":"text","content":"First Quantum Minerals Announces the Increase of the Maximum Tender Amount of Its Cash Tender Offer for Its Outstanding 6.875% Senior Notes Due 2027\n\n\n\n (In United States dollars, except where noted otherwise)\n \n\n TORONTO, Feb. 19, 2025 (GLOBE NEWSWIRE) -- First Quantum Minerals Ltd. (“First Quantum” or the “Company”) (TSX: FM) today announced, with respect to its previously announced tender offer (the “Tender Offer”) to purchase for cash up to $500,000,000 aggregate principal amount outstanding of its 6.875% Senior Notes due 2027 (the “Notes”), that it has increased the maximum principal amount of the Tender Offer from $500,000,000 (the “Original Maximum Amount”) to $750,000,000 (the “New Maximum Amount”), subject to the terms and conditions set forth in the offer to purchase dated February 19, 2025 (the “Offer to Purchase”). Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Offer to Purchase.\n \n\n As announced by the Company on February 19, 2025, the Company successfully priced and upsized its concurrent offering of $1,000,000,000 aggregate principal amount of 8.000% senior notes due 2033 (the “New Notes”).\n \n\n Accordingly, subject to the terms and conditions of the Tender Offer as set forth in the Offer to Purchase, the Company hereby announces that it is increasing the maximum aggregate principal amount of Notes to be tendered pursuant to the Tender Offer to the New Maximum Amount of $750,000,000.\n \n\n The Tender Offer will expire at 5:00 p.m., New York City time, on March 19, 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 March 4, 2025 (the “Early Tender Time”) will be eligible to receive $1,012.00 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...