First Quantum Minerals closes offering of C$1.85 billion

First Quantum Minerals Ltd. (First Quantum) closed an offering (the Offering) of C$1.85 billion, comprised of C$850 million of Senior Notes due 2024 and C$1 billion of Senior Notes due 2026. Interest on the 2024 notes will accrue at a rate of 6.875% per annum. First Quantum intends to use the proceeds of the Offering: (i) to prepay all of the outstanding indebtedness under First Quantum's term loan facility; (ii) to repay amounts drawn and outstanding under First Quantum's revolving credit facility to provide liquidity sufficient to fund First Quantum's share of remaining capital expenditures relating to the Cobre Panama project; and (iii) for general corporate purposes. Fasken acted as counsel to First Quantum with a team that included Reena Modha, Jodi Katz and Thomas Wexler and acted as Canadian counsel to First Quantum on the Offering with a team that included Sarah Gingrich, Georald Ingborg and Sandra Malcolm.