Inco Completes US$400M Offering

Inco Limited, one of the world’s premier mining and metals companies, recently completed the issuance of US$400 million aggregate principal amount of its 7.20 per cent debentures due 2032. The offering was made in the U.S. pursuant to the multijurisdictional disclosure system. The offering was announced on September 12, 2002 and completed on September 23, 2002. The offering was led by Merrill Lynch & Co., Inc., as sole book-running joint lead manager, with Salomon Smith Barney Inc., as joint lead manager, and Credit Suisse First Boston Corporation and Morgan Stanley as co-managers.

Inco was represented in-house by Stuart Feiner, executive vice-president and general counsel, and by general counsel Julie Lee Harrs and Lori Dussault. Osler, Hoskin & Harcourt LLP in Toronto and New York acted as Canadian counsel to Inco, with a team comprised of Dale Ponder, Rob Lando and Mary Abbott, and Donald Crawshaw, Susan Krembs, Judith Fiorini and Catherine Purdon of Sullivan & Cromwell in New York acted as U.S. counsel.

The underwriters were represented in Canada by Davies Ward Phillips & Vineberg LLP, with a team that included Patricia Olasker, Thomas Smee and Tarne Whiteley, and Brice Voran, Jason Lehner and Adam Givertz of Shearman & Sterling in Toronto acted as U.S. counsel.