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Inmet Mining closes $348 million equity bought deal

Fasken
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Client

Confidential Client

On June 25, 2009, Inmet Mining Corporation closed its previously announced $348 million equity bought deal. A syndicate of underwriters led by Credit Suisse Securities (Canada), Inc. and CIBC World Markets Inc., purchased 7,825,000 common shares of Inmet on a bought deal basis, at a price of $44.50 per share for aggregate gross proceeds of approximately $348 million The underwriters were granted an over-allotment option, exercisable until 30 days after the closing of the offering, enabling them to purchase up to an additional 15% of the number of shares sold pursuant to the offering at a price of $44.50 per share. The net proceeds of the offering will be used primarily for the repayment of all indebtedness owed by Cobre Las Cruces S.A. under its project financing facility for the Las Cruces mine and general corporate purposes. The underwriting syndicate was represented by Fasken Martineau, with a team led by Georges Dubé, and that included Martin Fisher-Haydis, Brad Freelan, Adam Inglis, Andrew Derksen and Dan Fuke (securities) and Mitchell Thaw (tax).

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