https://www.miningweekly.com

Hudbay prices $1bn senior notes offering

2nd December 2016

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

Font size: - +

VANCOUVER (miningweekly.com) – Canadian base metals producer HudBay Minerals has priced its offering of $1-billion of senior notes, which will be issued in two series, the company said on Thursday.

These will comprise a series of 7.25% senior notes due in 2023 for $400-million and a series of 7.625% senior notes due in 2025 for $600-million.

The new notes will be issued at 100% of their principal amount, providing the company with gross proceeds of $1-billion. The offering is expected to close on December 12, subject to customary closing conditions.

Hudbay plans to use the net proceeds from the offering to fund the company's offer to buy for cash all its outstanding $920-million total principal amount of 9.5% senior notes due in 2020; to fund the redemption or satisfaction and discharge of any existing notes that remain outstanding following consummation of the tender offer; and for general corporate purposes.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 
Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

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:0.044 0.695s - 114pq - 2rq
Subscribe Now