TSX:FMMetals and Mining
Is First Quantum’s US$1.5 Billion Debt Refinancing Altering The Investment Case For First Quantum Minerals (TSX:FM)?
First Quantum Minerals Ltd. recently priced a US$1.50 billion offering of 6.375% senior unsecured notes due 2036 at 100%, with proceeds earmarked to redeem its higher‑coupon 9.375% senior secured second lien notes due 2029, repay drawn revolver balances and cover fees.
This refinancing meaningfully reshapes the company’s capital structure by extending maturities, lowering interest costs and replacing secured debt with guaranteed senior unsecured obligations backed by key subsidiaries.
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