News Feed Item

First Quantum Minerals Ltd. Announces Results of Tender Offers



First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX: FM) today announced the results of its offers to purchase for cash (i) any and all of its US$350,000,000 aggregate principal amount outstanding 7.25% Senior Notes due 2019 (the "2019 Notes") and (ii) any and all of its US$1,120,498,000 aggregate principal amount outstanding 6.75% Senior Notes due 2020 (the "2020 Notes", and together with the 2019 Notes, the "Notes") from holders of the Notes ("Holders"), as further described in the offer to purchase dated March 13, 2017 (the "Offer to Purchase"). The offer to purchase the 2019 Notes and the offer to purchase the 2020 Notes are collectively referred to herein as the "Offers". The Offers expired at 5:00 p.m., New York City time, on March 17, 2017 (the "Expiration Date"). The Offers were made upon the terms and conditions set out in in the Offer to Purchase and the related Notice of Guaranteed Delivery. Capitalized terms used but not otherwise defined in this press release shall have the meanings given to them in the Offer to Purchase.

The Company announces that US$232,979,000 aggregate principal amount of 2019 Notes and US$833,348,000 aggregate principal amount of 2020 Notes were validly tendered and not withdrawn at or prior to the Expiration Date and will be accepted for purchase by the Company. These amounts include US$278,000 aggregate principal amount of 2020 Notes tendered pursuant to the guaranteed delivery procedures described in the Offer to Purchase, the purchase of which by the Company remains subject to the Holders' performance of the delivery requirements under such procedures.


     Notes              CUSIP Number                       ISIN
  7.25% Senior        Reg S: C3535CAB4             Reg S: USC3535CAB49
 Notes due 2019        144A: 335934AA3              144A: US335934AA33
  6.75% Senior        Reg S: C3535CAC2             Reg S: USC3535CAC22
 Notes due 2020        144A: 335934AD7              144A: US335934AD71

                                  Principal Amount
                    Aggregate         Following
                Principal Amount  Completion of the
     Notes         Accepted(1)        Offers(1)      Notes Consideration(2)
  7.25% Senior   US$232,979,000    US$117,021,000         US$1,038.50
 Notes due 2019
  6.75% Senior   US$833,348,000    US$287,150,000         US$1,036.00
 Notes due 2020
(1)   Assumes that all 2020 Notes tendered pursuant to the guaranteed
      delivery procedures are delivered to the Tender and Information Agent
      at or prior to 5:00 p.m., New York City time, on March 21, 2017 and
      otherwise in accordance with the Notice of Guaranteed Delivery.

(2)   Per US$1,000 principal amount of Notes accepted for purchase and
      excluding Accrued Interest.

The Company will pay the applicable Notes Consideration with respect to Notes accepted for purchase promptly after the Expiration Date, which is expected to be March 22, 2017 (the "Settlement Date"). In addition, Holders of Notes accepted for purchase in the Offers will be paid a cash amount equal to accrued and unpaid interest from the last interest payment date up to, but not including, the applicable Settlement Date ("Accrued Interest"). Notes purchased in the Offers will be retired and cancelled.

Subject to the satisfaction of certain conditions, the Company intends to redeem the 2019 Notes and 2020 Notes that are not validly tendered and accepted for purchase in the Offers in accordance with the terms of the applicable Indenture governing such Notes, at the then applicable redemption prices of 103.625% and 103.375%, respectively, plus accrued and unpaid interest to (but not including) the applicable date of redemption, which is expected to be April 12, 2017.

Barclays Capital Inc., BNP Paribas and J.P. Morgan Securities LLC acted as "Dealer Managers" for the Offers. In connection with the Offers, Lucid Issuer Services Limited was appointed as tender agent and as information agent (in such capacities, the "Tender and Information Agent"). Holders with questions about the Offers should contact the Dealer Managers or the Tender and Information Agent.


This announcement is neither an offer to purchase nor the solicitation of an offer to sell any of the securities described herein, nor shall there be any offer or sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Offers were made solely pursuant to the Offer to Purchase.

Questions may be directed to the Tender and Information Agent or the Dealer Managers at their addresses set forth below.

The Tender and Information Agent for the Offers was:

Lucid Issuer Services Limited

Tankerton Works

12 Argyle Walk

London WC1H 8HA

United Kingdom

Telephone: +44 20 7704 0880

Fax: +44 20 3004 1590

Attention: Thomas Choquet

Email: [email protected]

The Dealer Managers for the Offers were:

                            Barclays Capital Inc.

                             745 Seventh Avenue
                          New York, New York 10019
                          United States of America
                      Attn: Liability Management Group
                       U.S. Collect: +1 (212) 528-7581
                       U.K. Collect: +44 20 3134-8515
                      [email protected]

                                 BNP Paribas

                             10 Harewood Avenue
                               London NW1 6AA
                               United Kingdom
                      Attn: Liability Management Group
                       U.K. Collect: +44 20 7595-8668
                     [email protected]

                         J.P. Morgan Securities LLC

                        383 Madison Avenue, 3rd Floor
                          New York, New York 10179
                          United States of America
                      Attn: Liability Management Group
                       U.S. Collect: +1 (212) 834-3424
                      U.S. Toll Free: +1 (866) 834-4666
                             [email protected]

On Behalf of the Board of Directors of First Quantum Minerals Ltd.

G. Clive Newall, President

For further information visit our website at www.first-quantum.com.

North American contact:
Sharon Loung
Director, Investor Relations
(647) 346-3934
(604) 688-3818 (FAX)
Toll Free: 1 (888) 688-6577
[email protected]

United Kingdom contacts:
Clive Newall
+44 140 327 3484
+44 140 327 3494 (FAX)
[email protected]

Hannes Meyer
Chief Financial Officer
+44 207 612 8616
[email protected]

Martin Walker
Group Treasurer
+44 207 612 8638
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
SYS-CON Events announced today that SD Times | BZ Media has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. BZ Media LLC is a high-tech media company that produces technical conferences and expositions, and publishes a magazine, newsletters and websites in the software development, SharePoint, mobile development and commercial UAV markets.
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., will discuss how these tools can be leveraged to develop a lasting competitive advanta...
Building custom add-ons does not need to be limited to the ideas you see on a marketplace. In his session at 20th Cloud Expo, Sukhbir Dhillon, CEO and founder of Addteq, will go over some adventures they faced in developing integrations using Atlassian SDK and other technologies/platforms and how it has enabled development teams to experiment with newer paradigms like Serverless and newer features of Atlassian SDKs. In this presentation, you will be taken on a journey of Add-On and Integration ...
Now that the world has connected “things,” we need to build these devices as truly intelligent in order to create instantaneous and precise results. This means you have to do as much of the processing at the point of entry as you can: at the edge. The killer use cases for IoT are becoming manifest through AI engines on edge devices. An autonomous car has this dual edge/cloud analytics model, producing precise, real-time results. In his session at @ThingsExpo, John Crupi, Vice President and Eng...
There are 66 million network cameras capturing terabytes of data. How did factories in Japan improve physical security at the facilities and improve employee productivity? Edge Computing reduces possible kilobytes of data collected per second to only a few kilobytes of data transmitted to the public cloud every day. Data is aggregated and analyzed close to sensors so only intelligent results need to be transmitted to the cloud. Non-essential data is recycled to optimize storage.
"I think that everyone recognizes that for IoT to really realize its full potential and value that it is about creating ecosystems and marketplaces and that no single vendor is able to support what is required," explained Esmeralda Swartz, VP, Marketing Enterprise and Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem" ...
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, will present an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He will expound on the industry issues he frequently came up against as an analyst, and...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
After more than five years of DevOps, definitions are evolving, boundaries are expanding, ‘unicorns’ are no longer rare, enterprises are on board, and pundits are moving on. Can we now look at an evolution of DevOps? Should we? Is the foundation of DevOps ‘done’, or is there still too much left to do? What is mature, and what is still missing? What does the next 5 years of DevOps look like? In this Power Panel at DevOps Summit, moderated by DevOps Summit Conference Chair Andi Mann, panelists l...
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, provided the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” used open source attack tools that are free and available for download by anybody. Attendees learned where to find and how to operate these tools for the purpose of testing their own IT infrastructure. The...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
The modern software development landscape consists of best practices and tools that allow teams to deliver software in a near-continuous manner. By adopting a culture of automation, measurement and sharing, the time to ship code has been greatly reduced, allowing for shorter release cycles and quicker feedback from customers and users. Still, with all of these tools and methods, how can teams stay on top of what is taking place across their infrastructure and codebase? Hopping between services a...