New York, June 2 - Frontera Copper Corp. priced C$60 million of units at par to yield 10%.
Each unit is made up of a C$1,000 principal amount senior unsecured note due 2010 and 100 common shares.
RBC Capital Markets was lead manager for the offering, which was sold via prospectus in all the provinces and territories of Canada. The securities are not registered for sale in the United States. The syndicate also included Haywood Securities Inc., Orion Securities Inc., BMO Nesbitt Burns Inc. and National Bank Financial Inc.
The deal has a C$9 million greenshoe.
Proceeds, along with existing cash, will be used to fund development of Frontera's Piedras Verdes copper project in Sonora, Mexico.
The units will separate into notes and stock immediately on closing.
Frontera is a Toronto-based company formed to bring the Piedras Verdes mine back into production.
| Issuer: | Frontera Copper Corp.
|
| Issue: | Units of C$1,000 notes and 100 shares
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| Amount: | C$60 million
|
| Greenshoe: | C$9 million
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| Maturity: | 2010
|
| Coupon: | 10%
|
| Price: | Par of C$1,000
|
| Yield: | 10%
|
| Lead manager: | RBC Capital Markets
|
| Pricing date: | June 2
|
| Settlement date: | June 10
|
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