Acted for First Quantum Minerals Ltd. (“First Quantum”) in connection with its upsized offering of US$1.0 billion aggregate principal amount of 8.000% Senior Notes due 2033 and offer to purchase for cash its outstanding 6.875% Senior Notes due 2027 in a maximum aggregate principal amount of up to US$750,000,000.
First Quantum intends to apply the gross proceeds from the sale of the Notes, together with cash on balance sheet, to repay a US$250.0 million portion of its revolving credit facility and to fund the concurrent partial tender offer for its existing 6.875% senior notes due 2027.
Fasken acted as Canadian counsel to First Quantum on the offering and the cash tender offer with a team that included Sarah Gingrich, Perry Feldman, Aman Marwaha and Shyla Halseth (Capital Markets), KC Miu (Banking & Finance), Michael Coburn and Matthew Wilkins (Tax) and acted as UK counsel to First Quantum with a team that included Jodi Katz and Lucinda Patrick-Patel (Capital Markets), and Reena Modha, Thomas Wexler and Danuta de Vries (Banking & Finance) .
