Quadra FNX talks $500 million eight-year notes with 7½% area yield

By Paul A. Harris

Portland, Ore., June 9 - Quadra FNX Mining Ltd. talked its $500 million offering of eight-year senior notes (B1/BB-) with a yield in the 7½% area on Thursday, according to a market source.

The deal is expected to price on Friday.

J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC are the joint bookrunners. BMO Capital Markets Corp. is the co-manager.

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

The mid-tier copper mining company plans to use the proceeds to finance the development of the Sierra Gorda project in Chile.

Quadra FNX Mining maintains corporate offices in Vancouver, B.C., and Toronto, Ont.

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