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Thompson Creek closes note offer

Keywords: Tags  Thompson Creek Metals, copper, molybdenum, revolving credit facility, senior secured notes, Mount Milligan


NEW YORK — Thompson Creek Metals Co. Inc. has closed its $350-million offering of 9.75-percent senior secured first-priority notes due 2017, and has terminated its $300-million revolving credit facility.

The Denver-based molybdenum producer will use the proceeds from the offering for general corporate purposes, including capital expenditures relating to the development of its Mount Milligan copper-gold mine in British Columbia.

Analysts said the replacement of the revolving credit facility will give the company greater financial flexibility in light of its recent weak financial performance ( amm.com, Nov. 13).


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