Mountain Province Diamonds starts roadshow for $325 million five-year secured notes

By Paul A. Harris

Portland, Ore., Nov. 27 – Mountain Province Diamonds Inc. began a roadshow on Monday for a $325 million offering of five-year senior secured second-lien notes (/B-/BB-), according to an informed source.

The Rule 144A and Regulation S for life offering is set to price late in the Nov. 27 week.

Credit Suisse Securities (USA) LLC and Scotia Capital are the joint bookrunners.

The notes become callable after two years at par plus 50% of the coupon and feature a two-year 40% equity clawback and a 101% poison put.

The Toronto-based diamond mining company plans to use the proceeds to refinance bank debt.

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