Shearman And Sterling

News December 11, 2017

$330M Inaugural US Notes Offering by Mountain Province Diamonds

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 Team