NYSE: TC TSX: TCM
DENVER, Nov. 28, 2012 /PRNewswire/ - Thompson Creek Metals Company Inc. (the "Company" or "Thompson Creek") today announced the closing of its previously announced offering of $350,000,000 aggregate principal amount of its 9.75% Senior Secured First Priority Notes due 2017 ("Senior Secured Notes"). The Senior Secured Notes offering closed on November 27, 2012.
The Company intends to use the proceeds from the offering for general corporate purposes, including capital expenditures relating to the development of its Mt. Milligan copper-gold mine. In connection with the closing of this offering, the Company terminated its revolving credit facility, under which no debt is outstanding.
The Senior Secured Notes are fully and unconditionally guaranteed by certain wholly-owned subsidiaries of the Company. The Senior Secured Notes and the related guarantees are secured by a first-priority lien subject to permitted liens on substantially all of the Company's and the guarantors' property and assets. The Senior Secured Notes are not convertible into equity of Thompson Creek.Deutsche Bank Securities Inc. served as the sole book-running manager of the Senior Notes offering. About Thompson Creek Metals Company Inc. Thompson Creek Metals Company Inc. is a growing, diversified North American mining company. The Company produces molybdenum at its 100%-owned Thompson Creek Mine in Idaho and Langeloth Metallurgical Facility in Pennsylvania and its 75%-owned Endako Mine in northern British Columbia. Its principal executive office is in Denver, Colorado and its Canadian administrative office is in Vancouver, British Columbia. Cautionary Note Regarding Forward-Looking Statements This news release contains ''forward-looking statements'' within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include statements with respect to: the actual or anticipated timing or amount of securities offerings, the terms of the securities offered, future financial or operating performance of Thompson Creek or its subsidiaries and its projects; future inventory, production, sales, cash costs, capital expenditures and exploration expenditures; future earnings and operating results; expected concentrate grades, and recovery; statements as to the projected development of Mt. Milligan and other projects, including expected production commencement dates; Mt. Milligan development costs; operating goals of Thompson Creek or its subsidiaries; and future molybdenum prices.
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