Quadra FNX plans change-of-control offer for $500 million 7¾% notes

By Susanna Moon

Chicago, Dec. 6 - Quadra FNX Mining Ltd. announced a potential change-of-control offer for its $500 million principal amount of 7¾% senior notes at 101 plus accrued interest to the redemption date.

Quadra entered into a definitive agreement to be acquired by KGHM Polska Miedz SA for about C$3.5 billion, including $500 million of outstanding debt, according to a press release from Quadra.

The acquisition would constitute a change of control under the indenture governing the notes.

As a result, KGHM would be required to make a change-of-control offer to purchase all of the notes within 30 days of the completion of the deal.

Quadra is a copper mining company with corporate offices in Vancouver and Toronto.

KGHM is a copper and silver producer based in Lubin, Poland.

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