By Jennifer Chiou
New York, March 17 - Frontera Copper Corp. announced underwriters exercised their C$3.75 million over-allotment option, raising its issue of senior unsecured notes to C$28.75 million.
The C$25 million of 10% five-year notes were priced on Feb. 21 at 93.
Proceeds will be used to fund the balance of initial capital expenditures at the company's wholly owned Piedras Verdes copper project in Sonora, Mexico.
RBC Capital Markets ran the books. Haywood Securities, Orion Securities and BMO Nesbitt Burns were the co-managers.
Based in Toronto, Frontera Copper was incorporated in March 2002 to purchase and bring into production the Piedras Verdes open pit, run-of-mine, heap leach, SXEW copper project in Sonora, Mexico.
| Issuer: | Frontera Copper Corp.
|
| Amount: | C$28.75 million (includes greenshoe for C$3.75 million)
|
| Proceeds: | C$26,737,500
|
| Maturity: | Either March 15, 2011 or the settlement date plus five years and one day
|
| Security description: | Senior unsecured notes
|
| Bookrunner: | RBC Capital Markets
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| Co-managers: | Haywood Securities, Orion Securities, BMO Nesbitt Burns
|
| Coupon: | 10%
|
| Price: | 93.00
|
| Yield: | 11.9%
|
| Trade date: | Feb. 21
|
| Settlement date: | March 7
|
| Settlement date: | March 17 (greenshoe)
|
| Symbol: | Toronto: FCC.NT.A
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