Mining Company First Quantum Minerals Announces Extension of Maturity Dates for its 6.875% Senior Notes Due 2027 Cash Offer, Including Guaranteed Delivery and Settlement Dates
First Quantum Minerals Ltd., a global mining company, has announced an extension of the key dates for its Tender Offer to purchase outstanding 6.875% Senior Notes due 2027. The extension is related to the upsizing and pricing of new notes, aiming to maximise participation and reduce debt costs.
The new key dates are as follows:
- Price Determination Date: extended from August 12, 2025, 2:00 p.m. NYC time to August 18, 2025, 2:00 p.m. NYC time
- Expiration Date: extended from August 12, 2025, 5:00 p.m. NYC time to August 18, 2025, 5:00 p.m. NYC time
- Guaranteed Delivery Date: extended from August 14, 2025, 5:00 p.m. NYC time to August 20, 2025, 5:00 p.m. NYC time
- Expected Settlement Date: extended from August 15, 2025, to August 21, 2025
The Tender Offer expired at 5:00 p.m. NYC time on August 18, 2025, with the guaranteed delivery deadline on August 20, and settlement expected on August 21, 2025.
The Tender Offer is part of a refinancing transaction, with the Company expecting to issue new senior notes on terms and conditions satisfactory to it. The Tender Offer is not being conducted in the United States or any other jurisdiction where it would be unlawful to do so.
J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, BMO Capital Markets Corp., and Société Générale have been engaged as dealer managers for the Tender Offer. Copies of documents relating to the Tender Offer may be obtained from Kroll Issuer Services Limited.
Holders who validly tender and do not validly withdraw their Notes will be paid accrued and unpaid interest from the last interest payment date up to, but not including, the Settlement Date. Upon completion of the Tender Offer, the Notes accepted for purchase will be cancelled. Tendered Notes may be withdrawn at any time at or prior to the Expiration Date.
It is important to note that the consideration for each $1,000 principal amount of Notes tendered will be calculated by the Dealer Managers based on the fixed spread and the Reference Yield. The Company reserves the right to amend or waive any of the conditions of the Tender Offer, extend the Expiration Date, modify or terminate the Tender Offer, or otherwise amend the Tender Offer in any respect.
The Company has included a Cautionary Statement on Forward-Looking Information in the news release. Questions, requests for assistance, and requests for additional copies of the Offer to Purchase may be directed to the Tender and Information Agent or the Dealer Managers at their addresses set forth in this press release.
For media enquiries, please contact James Devas, Manager, Corporate Affairs, at 44 207 291 6630, Email: [email protected]. For investor relations, please contact Bonita To, Director, Investor Relations, at (416) 361-6400 Toll-free: 1 (888) 688-6577, Email: [email protected].
The new Notes will not be registered under the U.S. Securities Act or the securities laws of any state of the U.S. or other jurisdictions. The Offer to Purchase contains important information that should be read carefully before making any decision regarding the Tender Offer.
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