This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Thompson Creek Prices 6.50% Tangible Equity Units

Stocks in this article: TC TCM


DENVER, CO, May 7, 2012 /PRNewswire/ - Thompson Creek Metals Company Inc. (the "Company" or "Thompson Creek")  today announced the pricing of an offering of 8,800,000 of its 6.50% tangible equity units ("tMEDS"), each with a stated amount of $25.  The tMEDS priced at $25 each, generating net proceeds of approximately $212.0 million.  Of the $220.0 million aggregate stated amount of tMEDS, approximately $177.5 million will be accounted for as equity and $35.9 million will be accounted for as debt.  The tMEDS offering is expected to close, subject to customary closing conditions, on May 11, 2012.

The Company intends to use the net proceeds from the tMEDS offering, together with the net proceeds from a concurrent offering of Senior Notes due 2019, cash from operations and funds from prior financing arrangements, to complete construction of its Mt. Milligan copper-gold mine.  Neither the offering of the tMEDS nor the concurrent offering of Senior Notes due 2019 is contingent upon completion of the other offering, and each offering is being conducted as a separate public offering.

The underwriters of the tMEDS offering have a 13-day option to purchase up to an additional 1,200,000 tMEDS to cover over-allotments.

Each tMEDS is a unit composed of a prepaid stock purchase contract and a senior amortizing note due May 15, 2015.  Each purchase contract will automatically settle on May 15, 2015 for between 4.5855 and 5.3879 shares of Thompson Creek common stock, subject to adjustment as described in the prospectus supplement relating to the tMEDS offering.  The amortizing notes will pay equal quarterly installments of $0.406250 per amortizing note, which will constitute a payment of interest and a partial repayment of principal, and which in the aggregate will be equivalent to a 6.50% cash payment per year with respect to each $25 stated amount of tMEDS.  The amortizing notes will be senior unsecured obligations of the Company.

J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and RBC Dominion Securities Inc. served as book-running managers of the tMEDS offering.  The offering is subject to approval of the Toronto Stock Exchange.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,862.72 +84.57 0.48%
S&P 500 2,075.33 +14.10 0.68%
NASDAQ 4,775.7190 +27.3230 0.58%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs