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(In United States {dollars}, besides the place famous in any other case)
TORONTO, Oct. 14, 2021 (GLOBE NEWSWIRE) — First Quantum Minerals Ltd. (“FQM” or the “Firm”) (TSX: FM) at present introduced that it has signed a brand new $2.925 billion Time period Mortgage and Revolving Credit score Facility (the “Facility”). This new Facility replaces the prevailing $2.7 billion Time period Mortgage and Revolving Credit score Facility as a consequence of mature December 2022. The brand new $2.925 billion Facility contains a $1.625 billion Time period Mortgage Facility and a $1.3 billion Revolving Credit score Facility, maturing in September 2025. The Facility is syndicated to a gaggle of long-standing relationship banks of First Quantum.
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The refinancing extends the debt maturity profile of the enterprise and removes all materials debt maturities by way of to April 2023. As well as, the refinancing supplies further liquidity headroom and continues administration’s observe of proactively addressing debt maturities, and additional demonstrates the Firm’s entry to a various vary of funding sources. The refinancing consists of improved monetary phrases and diminished monetary covenants, an prolonged amortization schedule for the Time period Mortgage Facility starting in December 2022 and improves the monetary flexibility of the Firm by way of the added liquidity.
The Facility can be used to completely prepay and cancel quantities excellent on the prevailing facility ($1.66 billion as at September 30, 2021), to completely prepay and cancel a bilateral financial institution facility for $175 million and for basic company functions.
For additional info, go to our web site at www.first-quantum.com or contact:
Bonita To, Director, Investor Relations
(416) 361-3400 Toll-free: 1 (888) 688-6577
E-Mail: information@fqml.com
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