First Quantum Minerals Wins High Yield Deal of the Year at IFLR Awards
Deal News | May 15, 2025 | Ropes & Gray
The Ropes & Gray finance team has been recognized with the High Yield Deal of the Year award at the IFLR Americas Awards for its advisory role in a significant transaction involving First Quantum Minerals. The deal involved the issuance of $1.6 billion in senior secured second lien notes, marking the largest mining high yield offering in a decade. The firm represented several major financial institutions, including Goldman Sachs, BNP Paribas, and J.P. Morgan, in this landmark transaction. This achievement underscores Ropes & Gray's longstanding association with First Quantum Minerals and its prominence in the debt capital markets. Legal advice was coordinated by a team of specialized partners and associates across Ropes & Gray's London, Boston, and New York offices. The IFLR Awards highlight legal innovation and cross-border investment improvements, areas where this transaction excelled.
Sectors
- Legal Advisory
- Mining
- Investment Banking
- Debt Capital Markets
Geography
- United States – U.S. offices of Ropes & Gray in Boston and New York were involved in providing advisory services.
- United Kingdom – The London office of Ropes & Gray played a significant role in advising on matters of English law.
- Canada – First Quantum Minerals is a company based in Canada, active in the mining sector.
Industry
- Legal Advisory – Ropes & Gray's involvement in providing legal advisory services for the high yield deal.
- Mining – The transaction revolves around First Quantum Minerals, which operates in the mining industry.
- Investment Banking – Investment banks like Goldman Sachs & Co., BNP Paribas, and J.P. Morgan were involved as part of the deal's initial purchasers.
- Debt Capital Markets – The issuance of senior secured second lien notes by First Quantum Minerals is a part of debt capital markets activities.
Financials
- $1.6 billion – Aggregate principal amount of senior secured second lien notes issued by First Quantum Minerals.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ropes & Gray | Legal Advisor | Companies | A law firm providing advisory services for the high yield transaction. |
| First Quantum Minerals | Issuer | Companies | A Canadian mining company issuing senior secured second lien notes. |
| Goldman Sachs & Co. LLC | Initial Purchaser | Companies | One of the key investment banks involved in the offering of the notes. |
| BNP Paribas | Initial Purchaser | Companies | One of the initial purchasers participating in the mining high yield deal. |
| J.P. Morgan | Initial Purchaser | Companies | Another major investment bank involved in the notes offering. |
| Michael Kazakevich | Finance Partner | People | Led the Ropes & Gray team advising on the transaction. |
| Luwam Mezue | Counsel | People | Part of the Ropes & Gray team on the transaction. |
| Clara Melly | Associate | People | Member of the Ropes & Gray finance team. |
| Matea Scepanovic | Associate | People | Part of the Ropes & Gray team offering legal advice. |
| Alma Yasin | Associate | People | Involved in advising on high yield matters for the transaction. |
| Benoit Lavigne | Finance Partner | People | Advised on matters of English law in the transaction. |
| Sean Darling | Associate | People | Assisted in advising on English law intercreditor matters. |
| Craig Marcus | U.S. Capital Markets Partner | People | Provided advice on U.S. securities law matters. |
| Marc Rotter | Counsel | People | Advised on U.S. securities law from the New York office. |