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Franco-Nevada Announces Increase to Previously Announced Bought Deal Financing to US$800 Million
TORONTO, ONTARIO--(Marketwired - Feb. 11, 2016) - Franco-Nevada Corporation ("Franco-Nevada" or the "Company") (TSX:FNV)(NYSE:FNV) is pleased to announce
About this update from Franco-nevada Corporation
[{"type":"text","content":" TORONTO, ONTARIO--(Marketwired - Feb. 11, 2016) - Franco-Nevada Corporation (\"Franco-Nevada\" or the \"Company\") (TSX:FNV)(NYSE:FNV) is pleased to announce today that, due to strong demand, the Company has increased the size of its previously announced public offering to 16,720,000 common shares (the \"Common Shares\"), at a price of US$47.85 per common share (the \"Offering Price\"), for aggregate gross proceeds to Franco-Nevada of approximately US$800 million (the \"Offering\"). The Offering is led by BMO Capital Markets, CIBC Capital Markets, RBC Capital Markets, and Scotiabank. The underwriters will also have the option, exercisable in whole or in part, at any time for a period of 30 days following the closing of the Offering, to purchase up to an additional 2,508,000 common shares at the Offering Price to cover over-allotments, if any. In the event that the option is exercised in its entirety, the aggregate gross proceeds of the Offering to Franco-Nevada will be approximately US$920 million. The Company plans to use the net proceeds of the Offering for the funding of Franco-Nevada's acquisition of a precious metals stream with reference to production from Glencore plc's (\"Glencore\") Antapaccay Mine located in Peru, as announced on February 10, 2016 (the \"Antapaccay Transaction\"), and the balance will be added to the working capital of the Company and used for further investments, other general corporate purposes, and/or used to pay down the Company's credit facility. The completion of the Offering is not conditional upon the successful completion of the Antapaccay Transaction. The Company intends to file a final prospectus supplement to its existing base shelf prospectus on or about February 11, 2016 with the securities regulatory authorities in each of the provinces and territories in Canada and the U.S. Securities and Exchange Commission (\"SEC\"). The Offering is scheduled to close on or about February 19, 2016, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange, the New York Stock Exchange and the securities regulatory authorities. The Company has filed a registration statement (including the existing base shelf prospectus) and a preliminary prospectus supplement with the SEC for the Offering to which this...