First Quantum $300 million tap of 7¼% notes whispered 101.5 area; pricing Thursday

By Paul A. Harris

Portland, Ore., Jan. 9 – First Quantum Minerals Ltd. plans to price a $300 million add-on to its 7¼% senior notes due April 1, 2023 (B-) in a Thursday drive-by, according to a market source.

Initial price talk is in the 101.5 area.

J.P. Morgan Securities LLC is leading the private deal.

The notes are callable at 105.438.

The Vancouver, B.C.-based copper, nickel, gold and zinc mining company plans to use the proceeds to fund the redemption of its remaining $300 million of 7% senior notes due 2021.

The original $1.1 billion issue of 7¼% notes due April 2023 priced in March 2017.

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