Inmet Mining to Offer US$500M Senior Notes

By Staff,

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Inmet Mining Corporation (IMN.TO) said today it intends to offer US$500 million senior unsecured notes maturing June 2021. The interest rate will be determined based on prevailing market conditions, and other terms and covenants are expected to be substantially similar to Inmet's existing high yield notes.

Inmet intends to use the net proceeds of the notes to fund the development and potential early expansion of its Cobre Panama project and for general corporate purposes.

IMN shares were little changed, up 18 cents at $67.64.

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This article appears in: Investing Commodities
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