https://www.miningweekly.com

Hudbay launches C$278.76m financing

9th September 2017

By: Henry Lazenby

Creamer Media Deputy Editor: North America

     

Font size: - +

VANCOUVER (miningweekly.com) – Base metals miner Hudbay Minerals has signed an agreement with a syndicate of underwriters to raise up to C$278.76-million on a bought deal basis.

The Toronto-based miner has agreed to issue 24-million shares, at C$10.10 each, to raise C$243.4-million.

However, an overallotment option will enable the underwriters to buy a further 3.6-million shares to cover overallotments and for market stabilisation purposes, for gross proceeds of C$278.76-million.

Hudbay said it plans to use the funds to advance its current growth projects, enhance its financial flexibility to pursue other growth opportunities, and to reduce debt, as well as for general corporate purposes.

The offering is scheduled to close on or about September 27, subject to certain conditions.

Edited by Samantha Herbst
Creamer Media Deputy Editor

Comments

Latest News

The combined entity will have a leading portfolio of tier-one assets, focused on iron-ore, metallurgical coal and future facing commodities, including potash and copper.
BHP makes £31bn offer for Anglo American
25th April 2024 By: Mariaan Webb

Showroom

Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 
SMS group
SMS group

At SMS group, we have made it our mission to create a carbon-neutral and sustainable metals industry.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.136 0.174s - 112pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: