https://www.miningweekly.com

HudBay launches $150m senior notes offering

11th June 2013

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

Font size: - +

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.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ASTPM
ASTPM

Established in 1983, the ASTPM is an industry association and representative body of the welded carbon steel tube and pipe manufacturers of South...

VISIT SHOWROOM 
CSIR International Convention Centre (CSIR ICC)
CSIR International Convention Centre (CSIR ICC)

CSIR International Convention Centre (CSIR ICC) - the leading conference and events venue in Pretoria/Tshwane.

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:0.052 0.076s - 135pq - 3rq
Subscribe Now