Extends Deadlines for Cash Purchase of Outstanding 6.875% Senior Notes Due 2027, Announces First Quantum Minerals
First Quantum Minerals Ltd. has announced an extension of the deadline for its tender offer to purchase any and all of the outstanding 6.875% Senior Notes due 2027. The new dates are as follows:
- Expiration Date: August 18, 2025, 5:00 p.m. EDT (originally August 12, 2025)
- Price Determination Date: The date will be announced and is expected to be shortly before the Expiration Date
- Guaranteed Delivery Date: August 18, 2025
- Settlement Date: August 21, 2025
The tender offer commenced on July 28, 2025, and allows holders to tender their Notes for cash. The terms and conditions of the tender offer can be found in the Company's Offer to Purchase.
Key Details of the Tender Offer
- Holders tendering Notes will receive accrued and unpaid interest up to, but not including, the Settlement Date.
- The Notes Consideration is based on a fixed spread plus the yield on a U.S. Treasury Reference Security, determined by market prices at the Price Determination Date.
- Upon completion of the tender offer, the Notes accepted for purchase will be canceled.
- The tender offer is not registered under the U.S. Securities Act, or the securities laws of any state of the U.S. or other jurisdictions and the Notes will not be offered or sold within the U.S. or to, or for the account or benefit of, U.S. Persons (as defined in Regulation S of the U.S. Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and the applicable laws of other jurisdictions.
Contact Information
- For questions, requests for assistance, and requests for additional copies of the Offer to Purchase, contact the Tender and Information Agent or the Dealer Managers at their addresses set forth in the press release.
- For media inquiries, contact James Devas, Manager, Corporate Affairs, at 44 207 291 6630 or email [email protected].
- For investor relations, contact Bonita To, Director, Investor Relations, at (416) 361-6400, Toll-free: 1 (888) 688-6577, or email [email protected].
Important Notes
- Holders must make their own decisions as to whether to tender their Notes and deliver consents, and, if so, the principal amount of Notes to tender.
- None of the Company, the Dealer Managers, or the Tender and Information Agent make any recommendation as to whether or not Holders should tender their Notes or deliver consents or how much they should tender in connection with the Tender Offer.
- Holders who tender and do not withdraw their Notes will receive accrued and unpaid interest up to, but not including, the Settlement Date.
- The tender offer is made solely pursuant to the Offer to Purchase.
- The tender offer is part of a refinancing transaction, and the Company expects to issue new senior notes to fund the purchase of Notes and redeem Notes not tendered.
- Holders are urged to evaluate carefully all information contained in the Offer to Purchase and consult their own investment and tax advisors.
Cautionary Statement
Certain information contained in this news release constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and "forward-looking information" under applicable Canadian securities legislation. Forward-looking statements are based on assumptions, uncertainties, and management's best judgment. They could be affected by numerous factors, many of which are beyond the Company's control. The reader is cautioned not to place undue reliance on these statements.
[1] Press Release 1 [2] Press Release 2 [5] Press Release 3
- Investors in the real-estate industry might be interested in learning about the shift in the finance landscape, as First Quantum Minerals Ltd., a company known for mining operations, has announced an extension of a tender offer involving 6.875% Senior Notes due 2027.
- As part of a larger refinancing initiative, First Quantum Minerals is planning to delve into the investing sphere by issuing new senior notes to fund the purchase of the existing Notes and the retiring of those not tendered, signaling a potential expansion of the company's portfolio into other sectors, such as finance or real-estate.
