Simpson Thacher Represented Initial Purchasers in Sale of $500 Million Senior Notes by Quadra FNX Mining Ltd.
06.20.11
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Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC and BMO Capital Markets Corp., in the sale of an aggregate principal amount of $500 million 7.75% Senior Notes due 2019 of Quadra FNX Mining Ltd., a British Columbia corporation (“Quadra FNX”), pursuant to Rule 144A and Regulation S. The notes are guaranteed by certain of Quadra FNX’s direct and indirect subsidiaries. The deal closed on June 17, 2011. Quadra FNX intends to use the net proceeds from the offering to fund capital expenditures requirements of a joint venture to develop its Sierra Gorda project, a copper-molybdenum mining project in Chile.
Quadra FNX is a leading mid-tier copper mining company, with corporate offices in Vancouver, B.C. and Toronto, Ontario. Quadra FNX produces copper, nickel and precious metals from its operating mines in Nevada, Arizona, Chile and Ontario. Quadra FNX is listed on the Toronto Stock Exchange.
The Simpson Thacher team included Gary Sellers, David Azarkh, and Brandon Mason (Capital Markets); Anthony Minervini (Tax); Timothy Mulvihill and Noreen Lavan (Environmental); Gregory Grogan and Samantha Shipp (Executive Compensation & Employee Benefits); Julie Levy (Labor); and Andrew Pagliughi (Blue Sky). Summer associate Jay Baviskar and corporate paralegal David Whelan also provided valuable assistance.