Imperial Metals talks $325 million five-year notes to yield 7¼%-7½%

By Paul A. Harris

Portland, Ore., March 5 - Imperial Metals Corp. talked its $325 million offering of five-year senior notes (B3/B-) to yield 7¼% to 7½%, a syndicate source said on Wednesday.

Books close at 11 a.m. ET on Thursday, and the deal is set to price midday Thursday.

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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.