Mexico’s Fresnillo extends expiration on offer to purchase 5˝% notes

By Taylor Fox

New York, Sept. 29 – Fresnillo plc extended the expiration time on its offer to purchase for cash any and all of its $800 million outstanding of 5˝% notes due 2023 (Cusip: 358070AA8) to 5 p.m. ET on Sept. 29 from 8 a.m. ET on Sept. 29, according to a news release.

Holders of $480,411,000 of securities had tendered their securities, and holders of $1.2 million of notes had delivered notices of guaranteed delivery prior to the original expiration time.

The withdrawal deadline was also extended to 5 p.m. ET on Sept. 29.

As previously reported, the settlement date is expected to be Oct. 2.

Holders are eligible to receive $1,120 for each $1,000 of tendered notes, plus interest.

The tender offer is conditioned on consummation of an issuance of new bonds, among other things.

Citigroup Global Markets Inc. (800 558-3745, 212 723-6106), J.P. Morgan Securities LLC (866 846-2874, 212 834-7279) and Santander Investment Securities Inc. (855 404-3636, 212 940-1442) are dealer managers.

Global Bondholder Services Corp. (866 470-4500, 212 430-3774) is the tender agent and information agent.

Fresnillo is a precious metals mining company based in Mexico City.

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