Ivanhoe Mines in $1.18 Billion Rights Offering

February 2, 2011

Cleary Gottlieb represented Citi as lead dealer manager and BMO Capital Markets and CIBC as co-dealer managers in a rights offering by Ivanhoe Mines that generated $1.18 billion (CDN$1.17 billion) in gross proceeds, most of which will be used to advance development of the Oyu Tolgoi copper-gold project in Mongolia. 99.5% of all rights issued by Ivanhoe were exercised and the rights offering closed on February 2. Cleary Gottlieb also represented Citi in a related financing and hedge transaction with a major shareholder of Ivanhoe to facilitate his participation in the rights offering.

Ivanhoe is an international mining company with operations focused in the Asia Pacific region.