What premium or discount is being offered compared to the current market price of the 9.375% senior secured second lien notes?

Answer

The news release you quoted does not contain the specific price (or percentage) at which First Quantum Minerals is offering to buy its 9.375 % senior secured second‑lien notes, nor does it state whether that price represents a premium or a discount relative to the notes’ current market price. The excerpt you provided only tells us that:

• First Quantum has started a cash tender offer for the outstanding 9.375 % senior secured second‑lien notes due 2029.
  
• The maximum aggregate principal amount of notes that can be purchased under the offer is up to US $250 million.
  

Because the actual tender price (e.g., “$102.00 per $100 of principal” or “98.5 % of par”) is not listed in the excerpt, we cannot calculate or state the premium/discount that the company is offering.

What to do next

1. Locate the full press release (or the “offer document” that accompanies the tender offer). It will typically contain a table like the one below, showing the “Offer Price” and the “Current Market Price” (or “Trading Price”) with the corresponding premium/discount.

| Metric | Value (example) |
|---------------------|---------------|
| Offer price | $102.00 per $100 of principal |
| Current market price (as of X date) | $97.50 |
| Premium/discount | +4.6 % |

1. Check the “Offer Memorandum” or the filing on the company’s investor‑relations website, or look for the “Supplementary Material” often attached to the press release. Those documents typically provide the exact percentage (e.g., “the offer represents a 5 % premium to the volume‑weighted average price over the preceding 5 trading days”).

2. If you have access to a bond pricing service (e.g., Bloomberg, Reuters), you can compare the tender price to the latest quoted price for the 9.375 % notes. The difference will give you the exact premium or discount in both absolute ($) and percentage terms.

Quick Summary for the Reader

Bottom line: The premium or discount cannot be determined from the provided snippet. To obtain the exact figure, you’ll need to consult the full press release or the official tender‑offer documentation that accompanies it.