TORONTO, CANADA – Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF) (the “company”) today announced that the initial purchasers in its previously announced private placement offering of US$500,000,000 aggregate principal amount of 2.50% convertible senior notes due 2026 (the “Notes” and the “Offering”) have exercised, in full, their option to purchase up to an additional US$75,000,000 aggregate principal amount of Notes, bringing the total Offering size to US$575,000,000. The Offering, including the additional Notes, is expected to close on or about March 17, 2021, subject to various closing conditions, including the approval of the Toronto Stock Exchange.
The Notes are senior unsecured obligations of the company which will accrue interest payable semi-annually in arrears at a rate of 2.50% per annum and will mature on April 15, 2026, unless earlier repurchased, redeemed or converted. The initial conversion rate of the Notes is 134.5682 Class A common shares of the company (“Common Shares”) per US$1,000 principal amount of Notes, or an initial conversion price of approximately US$7.43 (equivalent to approximately C$9.31) per Common Share.
The Notes will be convertible at the option of holders, prior to the close of business on the business day immediately preceding October 15, 2025, only under certain circumstances and during certain periods, and thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. Upon conversion, the Notes may be settled, at the company’s election, in cash, Common Shares or a combination thereof.
The company estimates that the net proceeds from the sale of the Notes (including the additional Notes), after deducting initial purchaser discounts but before deducting the other estimated expenses of the offering, will be approximately US$562 million. The company intends to use the net proceeds from the Offering for general corporate purposes.
The Notes are being offered on a private placement basis and are not being offered by way of a prospectus in Canada. The Notes and the distribution of Common Shares issuable upon conversion of the Notes have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and the rules promulgated thereunder and applicable state securities laws. The Notes are being offered to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer, solicitation or sale in the United States or in any other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration and qualification under the securities laws of such state or jurisdiction. The Offering may be made only by means of an offering memorandum.
About Ivanhoe Mines
Ivanhoe Mines is a Canadian mining company focused on advancing its three principal joint-venture projects in Southern Africa: the development of major new, mechanized, underground mines at the Kamoa-Kakula copper discoveries in the DRC and at the Platreef palladium-platinum-nickel-copper-rhodium-gold discovery in South Africa; and the extensive redevelopment and upgrading of the historic Kipushi zinc-copper-germanium-silver mine, also in the DRC.
Kamoa-Kakula is expected to begin producing copper concentrate in July 2021 and, through phased expansions, is positioned to become one of the world’s largest copper producers. Kamoa-Kakula and Kipushi will be powered by clean, renewable hydro-generated electricity and Kamoa-Kakula will be among the world’s lowest greenhouse gas emitters per unit of metal produced. Ivanhoe also is exploring for new copper discoveries on its wholly-owned Western Foreland exploration licences in the DRC, near the Kamoa-Kakula Project.
Information contacts
Investors: Bill Trenaman +1.604.331.9834 / Media: Matthew Keevil +1.604.558.1034
Cautionary statement on forward-looking information
Certain statements in this release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. These statements reflect the company’s current expectations regarding future events, performance and results and speak only as of the date of this release. Such statements include without limitation, the completion of the Offering and the expected use of proceeds therefrom, the acceleration of Phase 3 expansion at the Kamoa-Kakula Project and exploration activities at the Western Forelands Project.
Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to, risks related to the company’s ability to consummate the Offering; the fact that the company’s management will have broad discretion in the use of the proceeds from the Offering; unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.
Although the forward-looking statements contained in this release are based upon what management of the company believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this release.
加拿大多伦多 — 艾芬豪矿业 (TSX: IVN; OTCQX: IVPAF) (以下简称“本公司”) 今天宣布,本公司早前公布私募发行总额为5亿美元、息票率2.50%、2026年到期的高级可转债 (以下简称“债券”或“债券发行”) 的初始买方已悉数行使额外的购买权,7,500万美元的超额配售已全部被认购,发行总额提升至5.75亿美元。债券发行仍有待各项条件的达成 (包括获多伦多证券交易所的批准) ,预计约在2021年3月17日完成。
债券为本公司的高级无抵押债务,息票率2.50%,每半年付息一次。除非提前回购、赎回或转换,债券将于2026年4月15日到期。债券的初步转换率为每份面值1,000美元的债券可转换为134.5682股公司A类普通股 (以下简称 “普通股”),或相当于每股普通股约7.43美元 (约9.31加元) 的初步转换价。
在2025年10月15日前一个工作日结束前,仅在某些情况下和特定时间,债券可根据持有人的选择进行兑换,此后,可随时兑换,直至到期日前第二个计划交易日结束。转换债券时,本公司可选择以现金、普通股或其组合方式结算。
本公司此次出售债券所得的净收入约为5.62亿美元 (扣除初始买方折扣,但未计债券发行的其他开支) 。本公司计划将发行债券所得的净收入,用于一般企业用途。
债券以私募方式发行,不会通过招股说明书在加拿大发行。债券或因转换债券而发行的普通股尚未且不会根据美国《1933年证券法》修订版 (以下简称“证券法”) 或任何州的证券法进行登记,除非根据《证券法》的注册要求及其下颁布的规则以及适用的州证券法得到豁免或在不受其约束的交易中进行,否则不得在美国发行或出售。债券发行的对象为《证券法》第144A条被合理认为属合格机构买方的人员。
本新闻稿并不构成销售要约或购买债券或任何其他证券的要约邀请;如果有任何州或司法管辖区的证券法规定在登记或取得资格之前进行要约、要约邀请或出售为非法行为,则不得在美国或任何其他司法管辖区进行要约、要约邀请或出售。债券发行的要约只能通过发行备忘录发出。
关于艾芬豪矿业
艾芬豪矿业是一家加拿大的矿业公司,目前正推进旗下位于南部非洲的三大合资企业项目﹕位于刚果(金)的卡莫阿-卡库拉 (Kamoa-Kakula) 铜矿和位于南非的普拉特瑞夫 (Platreef) 钯-铂-镍-铜-铑-金矿的大型机械化地下矿山开发工程,以及同样位于刚果(金)、久负盛名的基普什 (Kipushi) 锌-铜-锗-银矿的大型重建和改善工程。
卡莫阿-卡库拉预计将于2021年7月实现铜精矿生产,并分阶段进行扩建,预计将会成为全球最大规模的铜生产商之一。卡莫阿-卡库拉和基普什将使用清洁、可再生的水电,卡莫阿-卡库拉将成为全球每单位金属温室气体排放量最低的矿山之一。同时,艾芬豪正在刚果(金)境内其全资拥有、毗邻卡莫阿-卡库拉项目的西部前沿 (Western Foreland) 探矿权内寻找新的铜矿资源。
联系方式
投资者﹕Bill Trenaman +1.604.331.9834 / 媒体﹕Matthew Keevil +1.604.558.1034
前瞻性信息的警戒性声明
本新闻稿载有的某些陈述可能构成适用于证券法所定义的“前瞻性陈述”或“前瞻性信息”。该等陈述及信息涉及已知和未知的风险、不明朗因素和其他因素,可能导致本公司的实际业绩、表现或成就、其项目或行业的业绩,与前瞻性陈述或信息所表达或暗示的任何未来业绩、表现或成就产生重大差异。该等陈述可通过文中使用“可能"、“将会”、“会”、“将要”、“打算”、“预期”、“相信”、“计划”、“预计”、“估计”、“安排”、“预测”、“预言”及其他类似用语,或者声明“可能”、“会”、“将会”、“可能会”或“将要”采取、发生或实现某些行动、事件或结果进行识别。这些陈述仅反映本公司于本新闻稿发布当日对于未来事件、表现和业绩的当前预期。该等陈述包括但不限于债券发行的完成日期及发行债券所产生收入的用途的预期,以及加快推進卡莫阿-卡庫拉項目的III期擴建和西部前沿項目的勘探活動。
前瞻性陈述及信息涉及重大风险和不确定性,故不应被视为对未来表现或业绩的保证,并且不能准确地指示能否达到该等业绩。许多因素可能导致实际业绩与前瞻性陈述或信息所讨论的业绩有重大差异,包括但不限于本公司完成债券发行的能力;本公司管理层拥有使用发行债券所得收入的广泛酌处权;有关部门实施的法律、法规或规章或其不可预见的变化;与本公司签订合约的各方没有根据协议履行合约;社会或劳资纠纷;商品价格的变动;以及勘探计划或研究未能达到预期结果或未能产生足以证明和支持继续勘探、研究、开发或运营的结果。
虽然本新闻稿载有的前瞻性陈述是基于本公司管理层认为合理的假设而作出,但本公司不能保证实际业绩会与前瞻性陈述的预期一致。这些前瞻性陈述仅是截至本新闻稿发布当日作出,而且受本警戒性声明明确限制。根据相应的证券法,本公司并无义务更新或修改任何前瞻性陈述以反映本新闻稿发布当日后所发生的事件或情况。