First Quantum to repay credit facility borrowings via note offering

By Sarah Lizee

Olympia, Wash., Feb. 20 – First Quantum Minerals Ltd. intends to repay amounts outstanding under its revolving credit facility and repay some term loan debt using proceeds from a two-part offering of $1.5 billion senior notes due 2024 and 2026, according to a press release.

The company said it entered into the facilities on Oct. 19, 2017 to provide liquidity sufficient to fund the company's share of remaining capital expenditures relating to the Cobre Panama project.

Proceeds will also be used for general corporate purposes and to pay fees associated with the offering.

First Quantum is a Vancouver, B.C.-based copper producer.

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