Champion Iron Limited (CIAFF,CIA.TO,CIA.AX) announced that its wholly owned subsidiary, Champion Iron Canada Inc., priced its offering of US$500 million aggregate principal amount of senior notes due 2032 at the issue price of 100.000%. The Offering was upsized from the previously announced US$450 million aggregate principal amount of the Notes. Settlement is expected to take place on or about July 2, 2025.
Interest on the Notes will accrue from July 2, 2025 at a rate of 7.875% per annum and will be payable semi-annually. The Notes will be senior unsecured obligations of the Issuer and will be guaranteed by the Company and certain of its subsidiaries. The Notes will not be quoted on ASX or the TSX.
The company intends to use the net proceeds from the Offering to repay the amounts outstanding under its senior credit facilities and for general corporate purposes.
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