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First Quantum Announces Redemption of 2027 Notes
Globenewswire· 2025-09-02 13:14
Core Viewpoint - First Quantum Minerals Ltd. has successfully completed the redemption of its 6.875% Senior Notes due 2027, totaling an outstanding principal amount of $41,878,000, using proceeds from a new offering of senior notes due 2034 [1][2]. Group 1: Redemption Details - The redemption price for the 2027 Notes was set at $1,003.79 per $1,000 principal amount, in addition to accrued and unpaid interest amounting to $1,087,644.72 [2]. - The company utilized proceeds from a previously announced offering of $1,000 million aggregate principal amount of 7.250% senior notes due 2034 to facilitate this redemption [2]. Group 2: Company Information - First Quantum Minerals Ltd. is listed on the Toronto Stock Exchange under the ticker FM [1]. - For further inquiries, the company has provided contact details for its Investor Relations and Media Relations teams [2].
First Quantum Minerals Announces Results of Cash Tender Offer to Purchase Any and All of Its Outstanding 6.875% Senior Notes Due 2027
Globenewswire· 2025-08-19 10:36
Core Viewpoint - First Quantum Minerals Ltd. announced the results of its cash tender offer for its outstanding 6.875% Senior Notes due 2027, with a total of $714,625,000 validly tendered and accepted for purchase [1][3]. Group 1: Tender Offer Details - The tender offer expired on August 18, 2025, with a deadline for guaranteed delivery set for August 20, 2025 [2]. - The total principal amount of Notes accepted for purchase is $714,625,000, which includes $6,503,000 tendered under guaranteed delivery procedures [3]. - The Notes Consideration is set at $1,003.79 for each $1,000 principal amount of Notes validly tendered and accepted [7]. Group 2: Financial Implications - Following the completion of the tender offer, the outstanding principal amount of the Notes will be reduced to $35,375,000 [4]. - The Company will pay the applicable Notes Consideration promptly after the expiration date, expected on August 21, 2025 [9]. - Holders who validly tender their Notes will receive accrued and unpaid interest up to the settlement date [9]. Group 3: Management and Contact Information - J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, BMO Capital Markets Corp., and Société Générale are serving as dealer managers for the tender offer [11]. - For further inquiries, the Company has provided contact details for investor and media relations [12].
FIRST QUANTUM MINERALS ANNOUNCES EXTENSION OF THE EXPIRATION DATE, GUARANTEED DELIVERY DATE AND SETTLEMENT DATE OF CASH TENDER OFFER TO PURCHASE ANY AND ALL OF ITS OUTSTANDING 6.875% SENIOR NOTES DUE 2027
Prnewswire· 2025-08-06 22:08
Core Viewpoint - First Quantum Minerals Ltd. is extending the Tender Offer for its outstanding 6.875% Senior Notes due 2027, with new deadlines set for various key dates in the process [1][2]. Group 1: Tender Offer Details - The Price Determination Date has been extended to August 18, 2025, and the Expiration Date is now also August 18, 2025 [1]. - The Guaranteed Delivery Date is extended to August 20, 2025, and the expected Settlement Date is now August 21, 2025 [1]. - Holders of the Notes will receive a cash amount equal to accrued and unpaid interest from the last interest payment date up to the Settlement Date [2]. Group 2: Purpose and Financing - The Tender Offer aims to acquire all outstanding Notes as part of a refinancing transaction, with the expectation to issue new senior notes (New Notes) [6]. - Proceeds from the New Notes are intended to be used to purchase Notes in the Tender Offer and redeem any Notes not tendered [6]. - The Company intends to redeem any Notes not validly tendered after October 15, 2025, subject to certain conditions [7][8]. Group 3: Conditions and Amendments - The completion of the Tender Offer is contingent upon the successful issuance of New Notes and satisfaction of specific financing conditions [10]. - The Company reserves the right to amend or waive conditions of the Tender Offer at any time [11]. - If 90% of the outstanding Notes are tendered, the Company may redeem all remaining Notes at the offered price [9].
First Quantum Minerals Announces Extension of the Expiration Date, Guaranteed Delivery Date and Settlement Date of Cash Tender Offer to Purchase Any and All of Its Outstanding 6.875% Senior Notes Due 2027
Globenewswire· 2025-08-06 21:51
Core Viewpoint - First Quantum Minerals Ltd. is extending the Tender Offer for its outstanding 6.875% Senior Notes due 2027, with new dates for the Price Determination, Expiration, Guaranteed Delivery, and Settlement Dates [1][6][9]. Group 1: Tender Offer Details - The Tender Offer is aimed at purchasing all outstanding 6.875% Senior Notes due 2027, with the consideration for each $1,000 principal amount of Notes tendered being calculated based on a fixed spread plus the yield from a specified U.S. Treasury Reference Security [2][4]. - The new Price Determination Date is set for August 18, 2025, and the Expiration Date is also extended to the same date [1]. - Holders who validly tender their Notes will receive a cash amount equal to accrued and unpaid interest from the last interest payment date up to the Settlement Date [2][3]. Group 2: Refinancing and Redemption - The purpose of the Tender Offer is part of a refinancing transaction, where the company expects to issue new senior notes to fund the purchase of the existing Notes and redeem any not tendered [6][7]. - If not validly tendered, the company intends to redeem any remaining Notes on or after October 15, 2025, at a redemption price of 100.000% plus accrued interest [7][9]. - The company reserves the right to acquire any remaining outstanding Notes through various means if the Redemption does not occur [7][9]. Group 3: Conditions and Amendments - The completion of the Tender Offer is subject to the successful issuance of New Notes and satisfaction of certain financing conditions [9][10]. - The company retains the right to amend or waive conditions of the Tender Offer, extend the Expiration Date, or modify the terms of the offer [10][12].
First Quantum Minerals Announces Extension of the Expiration Date, Guaranteed Delivery Date and Settlement Date of Cash Tender Offer to Purchase Any and All of Its Outstanding 6.875% Senior Notes Due 2027
GlobeNewswire News Room· 2025-08-06 21:51
Core Viewpoint - First Quantum Minerals Ltd. is extending the Tender Offer for its outstanding 6.875% Senior Notes due 2027, with new deadlines for various key dates related to the offer [1][2]. Group 1: Tender Offer Details - The Price Determination Date is extended to August 18, 2025, and the Expiration Date is also extended to August 18, 2025 [1]. - The Guaranteed Delivery Date is now August 20, 2025, and the expected Settlement Date is moved to August 21, 2025 [1]. - The consideration for each $1,000 principal amount of Notes tendered will be calculated based on a fixed spread plus the yield from a specified U.S. Treasury Reference Security [2]. Group 2: Notes and Redemption - The purpose of the Tender Offer is to acquire all outstanding Notes as part of a refinancing transaction, with plans to issue new senior notes [6]. - The Company intends to redeem any Notes not tendered in the offer on or after October 15, 2025, at a redemption price of 100.000% plus accrued interest [7]. - If 90% of the outstanding Notes are tendered, the Company can redeem all remaining Notes at the same price offered in the Tender Offer [8]. Group 3: Conditions and Management - The Tender Offer is subject to the successful completion of the New Notes Issuance, which must provide sufficient proceeds to fund the purchase of all outstanding Notes [9]. - The Company reserves the right to amend or waive conditions of the Tender Offer at its discretion [10]. - The Dealer Managers for the Tender Offer include J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, BMO Capital Markets Corp., and Société Générale [12].
FIRST QUANTUM MINERALS ANNOUNCES CASH TENDER OFFER TO PURCHASE ANY AND ALL OF ITS OUTSTANDING 6.875% SENIOR NOTES DUE 2027
Prnewswire· 2025-08-06 11:52
Core Viewpoint - First Quantum Minerals Ltd. has initiated a cash tender offer to purchase all outstanding 6.875% Senior Notes due 2027, with the offer set to expire on August 12, 2025 [1][2]. Tender Offer Details - The tender offer will expire at 5:00 PM New York City time on August 12, 2025, and the consideration for each $1,000 principal amount of notes tendered will be calculated based on a fixed spread plus the yield of a specified U.S. Treasury Reference Security [2]. - Holders who validly tender their notes will receive a cash amount equal to accrued and unpaid interest from the last interest payment date up to the Settlement Date [2][3]. - Notes can be withdrawn at any time prior to the Expiration Date, and any accepted notes will be canceled upon completion of the tender offer [3]. Financial Strategy - The purpose of the tender offer is part of a refinancing transaction, where the company expects to issue new senior notes to fund the purchase of the existing notes and redeem any not tendered [6]. - The company intends to redeem any notes not validly tendered on or after October 15, 2025, at a redemption price of 100.000% plus accrued interest [7]. - If at least 90% of the outstanding notes are tendered, all remaining holders will be deemed to have consented to the tender offer, allowing the company to redeem all remaining notes [8]. Conditions and Amendments - The tender offer is subject to the successful completion of the new notes issuance and other conditions outlined in the Offer to Purchase [9]. - The company reserves the right to amend or waive any conditions of the tender offer, extend the expiration date, or modify the terms of the offer [10].
First Quantum Minerals Announces Cash Tender Offer to Purchase Any and All of Its Outstanding 6.875% Senior Notes Due 2027
Globenewswire· 2025-08-06 11:27
Core Viewpoint - First Quantum Minerals Ltd. has initiated a cash tender offer to purchase all outstanding 6.875% Senior Notes due 2027 as part of a refinancing strategy [1][6]. Tender Offer Details - The tender offer will expire on August 12, 2025, at 5:00 PM New York City time [2]. - Holders of the notes will receive a cash amount based on a fixed spread plus the yield of a U.S. Treasury Reference Security, along with accrued interest [2][6]. - Notes can be withdrawn at any time before the expiration date, and accepted notes will be canceled upon completion of the tender offer [3]. Purpose and Financing - The tender offer aims to acquire all outstanding notes as part of a refinancing transaction, with plans to issue new senior notes [6]. - Proceeds from the new notes issuance are expected to fund the purchase of the tendered notes and redeem any notes not tendered [6][10]. - The company intends to redeem any notes not validly tendered after October 15, 2025, at a redemption price of 100% plus accrued interest [7][10]. Conditions and Amendments - The completion of the tender offer is subject to the successful issuance of new notes and satisfaction of financing conditions [10]. - The company reserves the right to amend or waive conditions of the tender offer, extend the expiration date, or modify the terms [11][10]. Additional Information - The company has engaged several financial institutions as dealer managers for the tender offer [13]. - Full details regarding the tender offer can be obtained from the company's Offer to Purchase [12].