Hudbay’s Copper Mountain subsidiary calls remaining 8% notes due 2026

By Marisa Wong

Los Angeles, Nov. 15 – Hudbay Minerals Inc. announced that its wholly owned subsidiary, Copper Mountain Mining ULC, has exercised the redemption option on its 8% senior secured notes due April 9, 2026.

Copper Mountain will redeem the remaining C$54.7 million principal amount outstanding on or about Nov. 30 at a call price of 104 plus accrued interest, according to a press release.

Hudbay intends to utilize its senior secured revolving credit facility to fund the redemption of the Copper Mountain bonds.

Doing so will further enhance Hudbay’s financial flexibility by improving the company’s ability to deleverage and repay debt sooner than the 2026 maturity date of the Copper Mountain bonds, the release noted.

Hudbay is a copper-focused mining company based in Toronto.

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