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Quadra FNX Mining Ltd. Closes $500 Million High Yield Offering
Paul, Weiss client Quadra FNX Mining Ltd., a Canadian public company engaged in the production of, development of and exploration for copper and other base and precious metals, has closed an offering of $500 million aggregate principal amount of its 7.75 percent senior notes due 2019. The offering was made pursuant to exemptions from registration under Rule 144A and Regulation S of the Securities Act of 1933. J.P. Morgan, Credit Suisse and BMO Capital Markets were the initial purchasers. Quadra FNX will use the proceeds from the offering to fund its Sierra Gorda project in Chile, a world-class copper molybdenum project and joint venture with Sumitomo Metal Mining Ltd. and Sumitomo Corporation.
The Paul, Weiss team included corporate partner Adam M. Givertz; tax partner David W. Mayo; employee benefits counsel Erin Murphy and Maureen A. Riley; and environmental counsel William J. O'Brien.