First Quantum Minerals announces a cash tender offer aimed at acquiring all of its outstanding 6.875% senior notes due in 2027.
First Quantum Minerals Ltd. has announced a cash tender offer to purchase any and all of its outstanding 6.875% Senior Notes due 2027. The tender offer is part of the company's liability management and refinancing activity.
The tender offer is being managed by J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, BMO Capital Markets Corp, and Société Générale, who will serve as dealer managers for the tender offer.
The tender offer is subject to certain conditions and restrictions, and it may be unlawful to distribute this press release in certain jurisdictions. Persons into whose possession the Offer to Purchase comes are required to inform themselves about, and to observe, any such restrictions.
The tender offer is made solely pursuant to the Offer to Purchase. Holders who tender and do not withdraw their Notes will receive accrued and unpaid interest up to the Settlement Date. Tendered Notes may be withdrawn at any time before the expiration date, and no tenders will be valid after the expiration date.
The consideration for each $1,000 principal amount of Notes tendered will be calculated based on the fixed spread, the yield of a U.S. Treasury Reference Security, and the bid-side price of the Reference Security. The exact figures for the fixed spread, the Reference Security maturity, the Price Determination Date, the Settlement Date, and any updates or extensions can be found in the Offer to Purchase.
Upon completion of the tender offer, the Notes accepted for purchase will be canceled. The tender offer is expected to expire on August 12, 2025, and may be extended.
First Quantum Minerals Ltd. has also announced a concurrent new senior notes offering to fund the purchase of the Notes and the redemption of Notes not tendered in the offer.
For further information, holders are advised to review the Offer to Purchase. Contact information for Investor Relations, Media Relations, and general inquiries are provided. Questions, requests for assistance, and requests for additional copies of the Offer to Purchase may be directed to the Tender and Information Agent or the Dealer Managers at their addresses set forth in this press release.
A cautionary statement on forward-looking information is provided, and it is important to note that none of the Company, the Dealer Managers, or the Tender and Information agent makes any recommendation as to whether or not Holders should tender their Notes or deliver consents or how much they should tender in connection with the Tender Offer. This press release must be read in conjunction with the Offer to Purchase.
For more detailed information, please refer to the Offer to Purchase and any related documents.
- The tender offer by First Quantum Minerals Ltd. for its outstanding 6.875% Senior Notes due 2027 is a part of their business strategy that includes liability management and refinancing activities.
- This tender offer, managed by J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, BMO Capital Markets Corp, and Société Générale, is an investing opportunity for holders as they will receive accrued and unpaid interest up to the Settlement Date if they tender their Notes and do not withdraw them before the expiration date.
