Taseko Mines talks $500 million secured notes due 2030 at 8¼%-8½%; books close Tuesday morning

By Paul A. Harris

Portland, Ore., April 8 – Taseko Mines Ltd. expects to price a $500 million offering of senior secured notes due 2030 (B3/B-) on Tuesday, according to market sources.

Price talk is 8¼% to 8½%, tight to initial guidance in the mid-to-high 8% area.

The Rule 144A and Regulation S for life six-year notes come with 2.5 years of call protection.

Barclays, NBC and ING are the joint bookrunners.

The Vancouver, B.C.-based copper producer plans to use the proceeds to redeem all of its outstanding 7% senior secured notes due 2026, to fund capital expenditures including those incurred at Florence Copper and the Gibraltar mine, and to fund working capital, with any remaining proceeds to be used for general corporate purposes.

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