R/€ = 16.13 Change: 0.06
R/$ = 14.43 Change: 0.05
Au 1281.49 $/oz Change: 6.80
Pt 805.14 $/oz Change: 4.24
 
 
R/€ = 16.13 Change: 0.06
R/$ = 14.43 Change: 0.05
Au 1281.49 $/oz Change: 6.80
Pt 805.14 $/oz Change: 4.24
 
 
BACK

First Quantum announces refinancing

7th February 2019 BY: Creamer Media Reporter

Canadian miner First Quantum has signed a new $2.7-billion term loan and revolving credit facility, replacing the existing $1.5-billion revolving credit facility.

Underwritten by three core relationship banks, the new $2.7-billion facility, with an accordion feature to increase it up to $3-billion before the end of 2019, comprises a $1.5-billion term-loan facility and a $1.2-billion revolving credit facility maturing on December 31, 2022.

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The refinancing extends the debt maturity profile of the business, eliminating all material debt maturities through to 2022. In addition, it provides liquidity headroom under the revolving credit facilities.

The facility will be used for the redemption of the $1.12-billion senior notes due February 2021, in full or in part and for general corporate purposes. 

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EDITED BY: Mariaan Webb Creamer Media Senior Researcher and Deputy Editor Online
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