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Transaction/Case Details

Turquoise Hill Resources completes US$2.4 billion rights offering

DATE CLOSED

January 13, 2014

BUSINESS SECTOR

Mining & Metals

LEAD OFFICE

Toronto

VALUE

2.4 Billion USD


OVERVIEW

On January 13, 2014, Turquoise Hill Resources completed its rights offering pursuant to which rights were issued to all holders of its outstanding common shares to subscribe for an aggregate of 1,006,116,602 common shares, which generated gross proceeds of approximately US$2.4 billion. Turquoise Hill Resources used the net proceeds from the rights offering to repay all outstanding amounts under its US$1.8 billion interim funding facility and its secured US$600 million bridge facility with Rio Tinto.

Turquoise Hill Resources, headquartered in Vancouver, British Columbia, is an international mining company focused on copper, gold and coal mines in the Asia Pacific region.

Rio Tinto, headquartered in London, UK, is a global mining and metals company.

McCarthy Tétrault LLP represented Rio Tinto, the lender, with a team led by Brian Graves and including Shea Small, Gary Litwack, Ryan Hornby, Deandra Schubert, Lynn Parsons, William Fyfe, Frédéric Harvey and Ryan Rabinovitch.

 

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