First Quantum Minerals $2.2 billion 7.25% and 7.5% high yield issues

Overview:

• Mining and metals company First Quantum Minerals has made a $2.2 billion high yield issue.
• The offering consisted of $1.1 billion 7.5% notes due 2023 and $1.1 billion 7.25% notes due 2025.
• First Quantum concurrently offered to purchase $350 million of its notes due 2019 and $1.1 billion of its notes due 2020.
• The proceeds will be used for a variety of purposes, including for refinancing and for the notes repurchases.
• The initial purchasers were BNP Paribas, Barclays, JPMorgan, Citigroup, Crédit Agricole, Credit Suisse, ING, RBC Capital Markets, Société Générale, Standard Chartered, Natixis, Nedbank and Rand Merchant Bank.

Kurt Stumpo - Journalist