First Quantum Minerals driving by with $1 billion seven-year notes; initial talk low 7% area

By Paul A. Harris

Portland, Ore., Sept. 17 – First Quantum Minerals Ltd. plans to price a $1 billion offering of seven-year senior notes in a Thursday drive-by trailing a mid-morning conference call with investors, according to a syndicate source.

Initial price talk is in the low 7% area.

Goldman Sachs is the left global coordinator and left bookrunner. JPMorgan, BNP Paribas, SG, ING and Absa are joint global coordinators and joint bookrunners. BMO, Standard Chartered, Nedbank, Natixis, Credit Agricole and RBC are bookrunners.

NBC, Rand, Scotia and CIBC are the co-managers.

The Rule 144A and Regulation S for life come with three years of call protection.

The Vancouver, B.C.-based copper producer plans to use the proceeds to repay $575 million under its revolver and redeem $425 million of its notes maturing in 2022.

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