Metals miner Hudbay Minerals has priced an upsized offering of $600-million aggregate principal amount of 6.125% senior notes due 2029.
The size of the offering was increased from the previously announced $500-million aggregate principal amount.
The new notes, expected to close on September 23, will be issued at 100% of their principal amount, providing the company with gross proceeds of $600-million.
Hudbay says it will use the net proceeds from the offering to fund the redemption of all of its outstanding $400-million aggregate principal amount of 7.250% senior notes due 2023, pay any related premium, costs and expenses and for general corporate purposes.
Hudbay also announced the redemption of all of the 2023 notes on the terms, and subject to the conditions set forth, in the redemption notice dated September 9.