First Quantum amends facility to extend maturity to June 2014

By Jennifer Chiou

New York, Oct. 30 - First Quantum Minerals Ltd. subsidiary FQM (Akubra) Inc. announced that it has amended and restated its $2.5 billion revolving credit facility provided by Standard Chartered Bank to extend the maturity date to June 30, 2014.

According to a news release, reductions to the facility of $1.25 billion at Dec. 31 and $1.25 billion at March 26 are no longer required.

The company added that it is in discussions with Standard Chartered and its other banks to restructure its debt facilities.

First Quantum Minerals is a Vancouver, B.C.-based international mining and metals company.

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