Capital Markets

The underwriters in a $1.44 billion offering by First Quantum Minerals Ltd.

The underwriters
Key Contact
Desmond Lee

Partner, Corporate, Toronto

Team
James R. Brown

Partner, Corporate, Toronto

Jason Comerford

Partner, Corporate, New York

On June 4, 2015, First Quantum Minerals Ltd. completed its sale of 76,923,000 common shares of First Quantum at a price of $16.25 per common share to raise gross proceeds of $1.25 billion. The underwriters exercised their over-allotment option in full, bringing the aggregate gross proceeds to First Quantum of $1.44 billion.

First Quantum intends to use the net proceeds of the offering to advance and expand existing production facilities, to increase financial flexibility through the reduction of net debt, and for general corporate purposes, including strategic investments to further enhance its returns and growth pipeline.

Osler, Hoskin & Harcourt LLP advised the underwriters, with a team including Desmond Lee, Tara Law, James Brown and Robert Anton (Canadian corporate and securities) and Jason Comerford, Matthew Sadofsky and Matthew McLeod (US corporate and securities).

Value
$1.44 billion
Date Closed
June 4, 2015
Lead Office
Toronto
Key Contact
Desmond Lee

Partner, Corporate, Toronto

Team
James R. Brown

Partner, Corporate, Toronto

Jason Comerford

Partner, Corporate, New York