First Quantum Minerals starts roadshow for $650 million eight-year senior notes

By Paul A. Harris

Portland, Ore., May 6 - First Quantum Minerals Ltd. began a roadshow on Tuesday for a $650 million offering of eight-year senior notes, according to a syndicate source.

The deal is expected to price late this week.

Global coordinator Credit Suisse Securities (USA) LLC will bill and deliver. BNP Paribas and Jefferies LLC are also global coordinators.

Barclays, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Standard Chartered Bank are bookrunners.

Credit Agricole CIB, ING and SG CIB are the co-managers.

The Rule 144A and Regulation S for life notes become callable after three years at par plus 75% of the coupon and feature a three-year 35% equity clawback and a 101% poison put.

The Vancouver, B.C.-based copper producer plans to use the proceeds to repay bank debt.

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