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 percent of the principal amount of the Notes. The Notes will bear interest at an annual rate of 7.875 percent. 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.

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).

Osler, Hoskin & Harcourt LLP advised the Initial Purchasers with a team consisting of by Niko Veilleux, Joyce Bernasek, Alan Hutchison and Jean-Philippe Bertrand (Corporate) and Gregory Wylie (Tax).