Mountain Province Diamonds’ $330 Million Inaugural US Notes Offering

Shearman & Sterling advised Credit Suisse and Scotia Capital, as joint book-running managers, and Nedbank Limited, London Branch, ING Financial Markets and BMO Capital Markets, as co-managers, in connection with Mountain Province Diamonds’ (MPD) inaugural U.S. Rule 144A/Regulation S private placement of $330 million aggregate principal amount of 8 % senior secured second lien notes due 2022.

The notes are initially guaranteed by all of MPD’s subsidiaries and secured by a second-priority lien on substantially all of MPD’s and the guarantors’ assets.

MPD’s primary asset is a 49% participation interest in a joint venture with De Beers Canada Inc. in the Gahcho Kué diamond mine located in Canada’s Northwest Territories. Gahcho Kué is the world’s largest new diamond mine, consisting of a cluster of four diamondiferous kimberlites, three of which are being developed and mined under the initial 12-year mine plan.

The Shearman & Sterling team included partners Jason Lehner (Picture) (Toronto/New York–Capital Markets), Michael Steinberg (New York–Finance) and Laurence Crouch (Menlo Park–Tax); counsel Mehran Massih (London–Environmental); associates Ana Aur, Joanna Enns (both Toronto – Capital Markets), Emalie Sundale (Menlo Park – Tax) and Jake Glazeski (New York – Compensation, Governance & ERISA

Involved fees earner: Jason Lehner – Shearman & Sterling; Joanna Enns – Shearman & Sterling; Ana Aur – Shearman & Sterling; Michael Steinberg – Shearman & Sterling; Laurence Crouch – Shearman & Sterling; Emalie Sundale – Shearman & Sterling; Mehran Massih – Shearman & Sterling; Jake Glazeski – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Credit Suisse; ING Bank; Scotia Capital Inc.; Nedbank Ltd; BMO Capital Markets;


Author: Ambrogio Visconti