Falconbridge (FL-T) has boosted by US$50 million its previously announced plan to raise US$200 million to pay off debt under its commercial paper program.
The base metal miner has inked a deal with a syndicate of underwriters to sell US$250 million aggregate principal amount of ten-year notes under the company’s existing base shelf prospectus.
The deal is slated to close on June 5, 2002.
The unsecured notes bear interest at an annual rate of 7.35% and mature on June 5, 2012. The notes are redeemable in whole or in part at any time at a redemption price equal to 100% of their principal amount plus a make-whole premium.
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