First Quantum Minerals (OTC) (TSE:FM) has released an update.
First Quantum Minerals Ltd. has successfully completed a major financial maneuver, which includes finalizing a bought deal offering that raised approximately $1.15 billion through the issuance of over 139 million shares, and a $1.6 billion senior secured notes offering. These moves are part of a comprehensive refinancing strategy aimed at paying off existing senior notes due in 2025 and 2026, improving the company’s liquidity, and funding general corporate needs. The company’s CEO highlighted the strengthened balance sheet and the support from stakeholders which will contribute to the continued progress of their S3 Expansion at Kansanshi and operational excellence in Zambia.
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