Inmet Mining begins change-of-control offer for 8¾% notes, 7½% notes

By Angela McDaniels

Tacoma, Wash., April 19 - Inmet Mining Corp. began a change-of-control offer for its 8¾% senior notes due 2020 and 7½% senior notes due 2021, according to a news release from First Quantum Minerals Ltd.

Inmet Mining was acquired by First Quantum on March 21 and is now its subsidiary.

The company is offering 101% of par plus accrued interest up to but excluding the purchase date.

First Quantum said the current trading prices are $109.50 for the 8¾% notes and $106.313 for the 7½% notes.

The offer will expire at 5 p.m. ET on May 20.

The depositary for the offer is Citibank, NA (contact by facsimile at 201 258-3567).

First Quantum is a Vancouver, B.C.-based mining and metals company. Inmet is based in Toronto and mines for copper and zinc.

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