The Firm recently represented the underwriters, led by J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and RBC Dominion Securities Inc., in the sale of $200 million 12.5% Senior Notes due 2019 (the “Senior Notes”) and $220 million Tangible Equity Units (“tMEDS”) (or $250 million, assuming full exercise of the underwriters’ overallotment option) of Thompson Creek Metals Company Inc., a British Columbia corporation.
In connection with the issuance of the Senior Notes and the tMEDS, 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 Senior Notes and the tMEDS 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 Senior Notes and the tMEDS, together with cash from operations and funds from prior financing arrangements, to complete construction of its Mt. Milligan, British Columbia copper-gold mine.
The Simpson Thacher team for this transaction included Roxane Reardon, Frank Kwok and Evan Dunn (tMEDS); John Ericson, Jeremy Barr and Brittany McCants (Senior Notes); Patrick Ryan and Michael Vernace (Credit); Adeeb Fadil and Noreen Lavan (Environmental); Marcy Geller, Chang Won Choi and Vanessa Cohen (Tax); Samantha Shipp (Executive Compensation & Employee Benefits); and Jennie Getsin (FINRA and Blue Sky).