HudBay Minerals talks $150 million tap of 9½% notes due 2020 at 102; pricing Tuesday

By Paul A. Harris

Portland, Ore., June 11 - HudBay Minerals Inc. talked a $150 million add-on to its 9½% senior notes due Oct. 1, 2020 (B3) at 102 on Tuesday, according to an informed source.

Books close at 2 p.m. ET Tuesday, and the deal is set to price shortly thereafter.

Jefferies & Co. is the bookrunner for the Rule 144A and Regulation S with registration rights notes, which become callable on Oct. 1, 2016 at 104.75.

The company plans to use the proceeds for general corporate purposes and to fund the development of its Lalor and Reed projects in Manitoba and its Constancia project in Peru.

The Toronto-based integrated mining company priced the original $500 million issue at par on Sept. 6, 2012.

Upon registration, the add-on notes will be fungible with the existing notes.

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