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18 June 2014

5N Plus completes $60m bought-deal offering of convertible unsecured subordinated debentures

Specialty metal and chemical products firm 5N Plus Inc of Montreal, Qu├ębec, Canada has completed its bought-deal offering of convertible unsecured subordinated debentures worth $60m (announced on 29 May). The debentures were offered at a price of $1000 per debenture by way of short-form prospectus in each of the provinces of Canada. For the short term, 5N Plus will use the net proceeds to reduce indebtedness under its senior revolving credit facility.

The debentures bear interest at a rate of 5.75% per annum, payable semi-annually at the end of June and December each year, from 31 December 2014. They are convertible at the holder's option into 5N Plus common shares at $6.75 per share (representing a conversion rate of 148.1481 shares per $1000 principal amount of debentures). They will mature on 30 June 2019 and may be redeemed by 5N Plus, in certain circumstances, after 30 June 2017.

5N Plus has granted an over-allotment option to the underwriters entitling them to purchase, for a period of 30 days from 18 June, up to $6m of additional debentures (at $1000 each) to cover over-allotments, if any.

See related items:

5N Plus announces $60m bought-deal offering of convertible unsecured subordinated debentures

5N Plus announces $40m in equity financing

Tags: 5N Plus

Visit: www.5nplus.com

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