Imperial Metals plans to sell $325 million five-year senior notes

By Paul A. Harris

Portland, Ore., March 3 - Imperial Metals Corp. plans to price a $325 million offering of five-year senior notes late in the March 3 week, according to market sources.

J.P. Morgan Securities LLC and BMO Securities are the joint bookrunners for the Rule 144A and Regulation S offering.

CIBC World Markets, RBC Capital Markets Corp., TD Securities and Barclays are the co-managers.

The notes come with three years of call protection.

Proceeds, along with proceeds from a new C$200 million senior secured credit facility, will be used to repay debt, to fund capital expenditures related to the Red Chris project and for general corporate purposes.

Imperial Metals is an exploration, mine development and operating company based in Vancouver, B.C.

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