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FIRST QUANTUM MINERALS ANNOUNCES EARLY RESULTS OF CASH TENDER OFFER FOR MAXIMUM AGGREGATE PRINCIPAL AMOUNT OF $750,000,000
CASHPathward Financial(CASH) Prnewswire·2025-03-05 15:07

Core Viewpoint - First Quantum Minerals Ltd. announced the early results of its cash tender offer for its outstanding 6.875% Senior Notes due 2027, with a maximum aggregate principal amount of up to 750million[1][4].Group1:TenderOfferDetails−ThetenderofferwasinitiatedonFebruary19,2025,andtheearlytendertimewassetforMarch4,2025,at5:00p.m.NewYorkCitytime[2][4].−Asoftheearlytendertime,atotalof750 million [1][4]. Group 1: Tender Offer Details - The tender offer was initiated on February 19, 2025, and the early tender time was set for March 4, 2025, at 5:00 p.m. New York City time [2][4]. - As of the early tender time, a total of 1,372,316,000 in principal amount of the Notes was validly tendered, exceeding the maximum tender amount of 750million[3][5].−ThecompanywillaccepttheNotesonaproratedbasisduetotheoversubscription,andthetenderofferwillexpireonMarch19,2025[5].Group2:FinancialTerms−HolderswhovalidlytenderedtheirNotesbytheearlytendertimeareeligibletoreceiveatotalconsiderationof750 million [3][5]. - The company will accept the Notes on a prorated basis due to the oversubscription, and the tender offer will expire on March 19, 2025 [5]. Group 2: Financial Terms - Holders who validly tendered their Notes by the early tender time are eligible to receive a total consideration of 1,012.00 per 1,000principalamountofNotes,whichincludesanearlytenderpremium[6].−Thetotalconsiderationconsistsofatenderconsiderationof1,000 principal amount of Notes, which includes an early tender premium [6]. - The total consideration consists of a tender consideration of 962.00 plus an early tender premium of $50.00, along with accrued and unpaid interest [6]. Group 3: Settlement Information - The company plans to make payment for the accepted Notes on March 6, 2025, which is designated as the early settlement date [4]. - Notes purchased in the tender offer will be retired and canceled following the completion of the transaction [6].