The Firm recently represented the initial purchasers, led by J.P. Morgan Securities LLC and Deutsche Bank Securities Inc., in a sale of $350 million of 7.375% Senior Notes due 2018 of Thompson Creek Metals Company Inc., a British Columbia corporation, pursuant to Rule 144A and Regulation S.
In connection with the issuance of the notes, the Firm represented JPMorgan Chase Bank, N.A., as administrative agent, in amending Thompson Creek’s $300 million senior secured revolving credit agreement to permit the issuance of the notes and to make other modifications. The Firm also represented JPMorgan in connection with the closing of the senior secured revolving credit agreement in December 2010.
Thompson Creek is a North American mining company and is a significant supplier of molybdenum with substantial copper and gold reserves. Molybdenum is an industrial metal used as a ferro-alloy in steels that serve the chemical processing, oil refining, power generation, oil well drilling and petroleum and gas pipeline industries. Thompson Creek intends to use the proceeds of the offering of the notes to fund development of its Mt. Milligan, British Columbia copper-gold mine and for general working capital.
The Simpson Thacher team for this transaction included John Ericson, Hui Lin and Corina Gugler (Capital Markets); Patrick Ryan and Michael Vernace (Credit); Adeeb Fadil and Noreen Lavan (Environmental); Chang Won Choi (Tax); Samantha Shipp (Executive Compensation & Employee Benefits); and Jennie Getsin (Blue Sky). Paralegals Alexandra McNicholas and Manuel Fermin also provided valuable assistance.