Thompson Creek Metals starts roadshow for $350 million secured notes

By Paul A. Harris

Portland, Ore., Nov. 13 - Thompson Creek Metals Co. Inc. started a roadshow on Tuesday in New York for a $350 million offering of senior secured first-priority notes due February 2018, according to an informed source.

Ensuing presentations will be made in Boston and New York on Wednesday and on the West Coast of the United States on Thursday and Friday.

Deutsche Bank Securities Inc. has the books. RBC Capital Markets is the senior co-manager.

SG CIB, Standard Chartered Bank and UBS Investment Bank are the co-managers.

The notes, which have been registered with the Securities and Exchange Commission, become callable in 2.25 years at par plus 75% of the coupon.

The notes feature a three-year 35% equity clawback and a 101% poison put.

The diversified North American mining company plans to use the proceeds to replace and terminate its existing revolver, to fully fund the remainder of the capital expenditures at the Mt. Milligan copper and gold mine and for general corporate purpose.

Thompson Creek Metals is based in Vancouver, B.C., and Littleton, Colo.

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