Chicago, March 9 – Volcan Compania Minera SAA sold an upsized $475 million of 4 3/8% senior notes due 2026 (B1//B), according to multiple press releases.
The offer was planned for $450 million.
Banco BTG Pactual SA, Cayman Branch, Citigroup Global Markets Inc., and Santander Investment Securities Inc. acted as joint bookrunners.
Proceeds were used to fund a concurrent cash tender offer for 5 3/8% notes due 2022 and to repay other existing debt. Any remaining balance will be used for general corporate purposes.
Volcan is a mining company based in Lima, Peru and is controlled by Glencore plc.
| Issuer: | Volcan Compania Minera SAA
|
| Issue: | Senior notes
|
| Amount: | $475 million
|
| Maturity: | 2026
|
| Bookrunners: | Banco BTG Pactual SA, Cayman Branch, Citigroup Global Markets Inc., and Santander Investment Securities Inc.
|
| Counsel to underwriters: | Linklaters
|
| Counsel to issuer: | Shearman & Sterling
|
| Coupon: | 4 3/8%
|
| Announcement date: | Feb. 16
|
| Ratings: | Moody’s: B1
|
| Fitch: B
|
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