Thompson Creek Metals to sell $300 million senior notes due 2018

By Cristal Cody

Prospect News, May 9 - Thompson Creek Metals Co. Inc. launched a roadshow on Monday for a $300 million offering of senior notes due 2018, according to the company.

The notes are expected to be rated B3 by Moody's Investors Service and B by Standard & Poor's, an informed bond source said.

The deal will be offered in the United States under Rule 144A and outside the United States through Regulation S. Pricing is expected on Friday.

J.P. Morgan Securities LLC and Deutsche Bank AG are the bookrunners. Co-managers include BBVA, RBC Capital Markets Corp., UBS Investment Bank.

The deal includes a make whole call at Treasuries plus 50 basis points.

The notes will be guaranteed by subsidiaries Thompson Creek Metals Co. USA, Thompson Creek Mining Co., Thompson Creek Mining Ltd., Langeloth Metallurgical Co. LLC, Terrane Metals Corp., Berg General Partner Corp., Berg Metals LP, Cyprus Thompson Creek Mining Co., Long Creek Mining Co., Blue Pearl Mining Inc., Thompson Creek Services ULC and Mt. Emmons Moly Co.

The proceeds will be used to fund construction and development of the Mt. Milligan copper and gold mine in British Columbia and for general working capital.

The mining company is based in Vancouver, B.C., and Littleton, Colo.

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