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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 (, Nov. 13).

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