Thompson Creek Offers Senior Secured Notes
Thompson Creek Metals Co., Inc. (NYSE:TC)
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3 Years : From Oct 2012 to Oct 2015
DENVER, CO, Nov. 13, 2012 /PRNewswire/ - Thompson Creek Metals Company Inc.
(the "Company" or "Thompson Creek"), today announced its intention to
offer, subject to market and other conditions, $350,000,000 of its
Senior Secured First Priority Notes due 2018 ("Senior Secured Notes").
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 intends to terminate its
revolving credit facility, under which no debt is outstanding.
The Senior Secured Notes will be fully and unconditionally guaranteed by
certain wholly-owned subsidiaries of the Company. The Senior Secured
Notes and the related guarantees will be 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.
The offering is being made in the United States pursuant to an effective
shelf registration statement that has been filed with the Securities
and Exchange Commission (the "SEC"). A preliminary prospectus
supplement related to the offering will be filed with the SEC and will
be available on the SEC's website at http://www.sec.gov.
The offering is being made in Canada pursuant to an effective Canadian
base shelf prospectus that has been filed on SEDAR. A preliminary
prospectus supplement related to the offering will be filed with, and
be available on, SEDAR at http://www.sedar.com.
Copies of the preliminary prospectus supplement and the accompanying
prospectus relating to the Senior Secured Notes may be obtained from
the Sole Book-Running Manager, Deutsche Bank Securities Inc., by
telephone at 1-800-503-4611, by email to prospectus.CPDG@db.com or by mail to Deutsche Bank Securities Inc., Attention: Prospectus
Group, 60 Wall Street, New York, NY 10005-2836.
This press release is neither an offer to sell nor a solicitation of an
offer to buy any of Senior Secured Notes or any other security of the
Company, nor shall there be any sale of the Senior Secured Notes in any
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such jurisdiction.
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. Thompson Creek has approximately 1,100 employees.
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
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which could cause actual results to
differ materially from any future results, performance or achievements
expressed or implied by the forward-looking statements. Such factors
include, among others, risks related to whether the offered securities
will be sold, general business, economic, competitive, political and
social uncertainties including global economic conditions; volatility
in molybdenum prices; labor cost and materials cost fluctuations;
foreign currency fluctuations; energy price fluctuations; project
delays; title disputes or claims; limitations of insurance coverage;
changes in governmental regulation of mining operations; risks related
to the volatility of Thompson Creek's share price; changes in
environmental regulation; actual results of current exploration
activities; actual results of reclamation activities; conclusions of
economic evaluations; changes in project parameters as plans continue
to be refined; possible variations of ore grade or recovery rates;
mining and processing conditions; construction delays and related
disruptions in production; costs of capital expenditures; industrial
accidents; weather and geological related conditions; permitting and
regulatory matters (including penalties, fines, sanctions and
shutdowns); and failure of plant, equipment or processes to operate as
anticipated. Additional factors that could cause Thompson Creek's
results to differ from those described in the forward-looking
statements can be found in the section entitled ''Risk Factors'' in
Thompson Creek's Annual Report on Form 10-K and in Part II, Item 1A of
Thompson Creek's Quarterly Reports on Form 10-Q, and subsequent
documents filed on EDGAR at www.sec.gov and on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date
of this news release and Thompson Creek disclaims any obligation to
update any forward-looking statements, whether as a result of new
information, future events or results or otherwise, except as required
by law. There can be no assurance that forward-looking statements will
prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, the
reader is cautioned not to place undue reliance on forward-looking
Director, Investor Relations
Thompson Creek Metals Company Inc.
Tel: (303) 762-3526
Renmark Financial Communications Inc.
Tel: (416) 644-2020
SOURCE Thompson Creek Metals Company Inc.