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First Quantum Minerals Issues $1.5B Senior Notes

Vinson & Elkins represented First Quantum Minerals Ltd. (“FQM”) in connection with its Rule 144A/Regulation S offering of $1.5 billion aggregate principal amount of 6.875% senior notes due 2027. The Notes were issued on October 1, 2020 and FQM intends to use the gross proceeds from the sale of the Notes to repay $650 million principal amount under its existing revolving credit facility and redeem in full its outstanding $850 million aggregate principal amount of 7.250% senior notes due 2022.

First Quantum Minerals is a TSX-listed leading international mining and metals company engaged primarily in mineral exploration, mine development and the production of copper, gold, zinc and nickel.

The V&E team was led by partner Noel Hughes with assistance from partner Federico Fruhbeck, counsel Christianne Williams, senior associate Matthew Lowe and associates Chris Hesford and Anu Akinbamidele. Partner Wendy Salinas and associates Liz Snyder and Byul Han provided tax advice.

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