New Issue: Thompson Creek prices $200 million 12½% seven-year notes at par

By Paul A. Harris

Portland, Ore., May 8 - Thompson Creek Metals Co. Inc. priced a $200 million issue of seven-year senior notes (Caa2/CCC+/) at par to yield 12½% on Tuesday, according to a market source.

The yield printed 12.5 basis points beyond the wide end of price talk that had been set in the 12% area.

J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and RBC Capital Markets are the joint bookrunners.

Proceeds will be used to fund construction of the Mt. Millgan copper-gold mine and for working capital.

The issuer is a mining company is based in Vancouver, B.C., and Littleton, Colo.

Issuer:	Thompson Creek Metals Co. Inc.
Amount:	$200 million
Maturity:	May 1, 2019
Securities:	Senior notes
Bookrunners:	J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., RBC Capital Markets
Co-managers:	SG CIB, Standard Bank plc, UBS Securities LLC
Coupon:	12½%
Price:	Par
Yield:	12½%
Spread:	1,126 bps
Call features:	Make-whole call at Treasuries plus 50 bps until May 1, 2016, then callable at 106.25, 103.125, par on and after May 1, 2018
Equity clawback:	35% at 112.5 until May 1, 2015
Change-of-control put:	101%
Trade date:	May 8
Settlement date:	May 11
Ratings:	Moody's: Caa2
	Standard & Poor's: CCC+
Distribution:	SEC registered
Price talk:	12% area
Marketing:	Roadshow

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