Champion Iron Limited Completes the private offering of US$500M Senior Notes Due 2032
On June 25, 2025, Champion Iron Limited announced that its wholly-owned subsidiary, Champion Iron Canada Inc., launched a private offering of US$450 million aggregate principal amount of senior unsecured notes due 2032 (the “Notes”). On June 26, 2025, the offering was upsized to US$500 million and priced at 100.000% of the principal amount of the Notes. The Notes will bear interest at an annual rate of 7.875%. The Notes will be senior unsecured obligations of the issuer and will be guaranteed by Champion Iron Limited and certain of its subsidiaries. Champion Iron Limited intends to use the net proceeds from the offering to repay the outstanding amounts under its senior credit facilities and for general corporate purposes.
Champion Iron Limited , through its wholly-owned subsidiary Quebec Iron Ore Inc., owns and operates the Bloom Lake Mining Complex located on the south end of the Labrador Trough, approximately 13 kilometres north of Fermont, Quebec. In addition to Bloom Lake, Champion owns a portfolio of exploration and development projects in the Labrador Trough, including the Kami Project located only a few kilometres south-east of Bloom Lake and the Cluster II portfolio of properties located within 60 kilometres south of Bloom Lake.
McCarthy Tétrault advised Champion Iron Limited with a team led by Charles-Antoine Soulière and Konstantin A. Sobolevski that included Andrew Parker, Shaun Khullar, Louis-Nicolas Boulanger, Asma Boudoukha, Annie Poirier-Simard, Sian Desparois (Corporate), Louis-Philippe Samson, Mathilde Melançon-Brais, Charles Morin (Finance), Fred Purkey, Marc-Philippe Gagnon (Tax), and Una Radoja (Litigation).
