HudBay launches $150m senior notes offering
TORONTO (miningweekly.com) – Miner HudBay Minerals has launched a $150-million senior unsecured notes offering bearing a 9.50% interest rate, and which is due on October 1, 2020.
HudBay on Monday said the notes were in addition to the $500-million, 9.50% senior unsecured notes that it had issued in September 2012.
The company planned to use the net proceeds from the offering for general corporate purposes and the development of its Lalor gold/zinc/copper project and Reed copper project, in Manitoba, and its Constancia copper project, in Peru.
The Bank of Nova Scotia and the Canadian Imperial Bank of Commerce had committed, subject to completion of the offering, to amend or replace the company's existing $300-million revolving credit facility to reduce the amount of the facility to $100-million, to extend the term of the facility to three years from the date of the amendment or replacement is completed, and to remove or revise the earnings before interest, taxes, depreciation and amortisation-based financial covenants contained in the existing facility.
The amendment or replacement of the revolving credit facility was subject to completion of definitive documentation and other customary conditions precedent.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation














