First Quantum Minerals Announces Pricing and Upsizing of Senior Notes Offering

Core Viewpoint - First Quantum Minerals Ltd. has successfully completed the pricing of its offering of $1,000 million aggregate principal amount of 8.000% senior notes due 2033, increasing the original offering amount from $750 million to $1,000 million [1][2]. Group 1: Offering Details - The issue price of the Notes is set at 100.000% [1]. - Interest on the Notes will accrue at a rate of 8.000% per annum, payable semi-annually [2]. - Settlement of the Notes is expected to occur on or about March 5, 2025, subject to customary conditions [2]. Group 2: Use of Proceeds - The Company plans to use the gross proceeds from the sale of the Notes, along with cash on the balance sheet, to repay a $250 million portion of its revolving credit facility [3]. - Additionally, the proceeds will fund a partial tender offer for its existing 6.875% senior notes due 2027 and cover transaction fees, costs, and expenses [3].