TSX:FMMetals and Mining
First Quantum Minerals Refinancing Raises Questions On Debt Costs And Valuation
First Quantum Minerals (TSX:FM) has issued US$1.5b of senior notes due 2036.
The company is using the proceeds to redeem higher cost debt and repay credit facilities.
This refinancing changes the mix and timing of the company’s borrowings and affects its interest costs.
For investors watching TSX:FM, this refinancing comes after a period of strong 1 year share performance, with the stock up 127.8%, and a current share price of CA$41.35. Returns over 3 and 5 years, at 35.4% and 60.5%,...