Nexa Resources’s offer for 2028 notes oversubscribed, to be prorated

Chicago, April 12 – Nexa Resources SA announced that its partial tender offer for its $500 million of outstanding 6˝% notes due 2028 (Cusips: 65290DAA1, L67359AA4) was oversubscribed at the early deadline, according to a press release.

As of 5 p.m. ET on April 12, noteholders tendered $247,185,000 of their notes.

The company is accepting $99,499,000 of the notes for purchase by applying a 32.3% proration factor.

Noteholders are receiving the full $1,020 total consideration per $1,000 note, inclusive of a $30 early tender payment.

The tender offer is scheduled to expire at 5 p.m. ET on April 29, but because the offer has been oversubscribed the company does not expect to accept any more notes for purchase.

As previously reported, the company was running a concurrent started tender offer for any and all of its $700 million of outstanding 5 3/8% notes due 2027 (Cusips: 91832CAA4, P98118AA3) that has already concluded.

The company purchased 69.2% of the principal amount outstanding on April 10 when that offer settled.

The acceptance amount was based on a $600 million payment amount minus the payment amount of 2027 notes tendered.

Nexa will be paying $103,051,943.46 (including principal, premium and accrued interest) to purchase the 2028 notes.

The tender offer for the 2028 notes is expected to settle Monday.

Nexa engaged BBVA Securities Inc. (800 422-8692, 212 728-2303), Citigroup Global Markets Inc. (800 558-3745, 212 723-6106), HSBC Securities (USA) Inc. (888 472-2456, 212 525-5552), J.P. Morgan Securities LLC (866 846-2874, 212 834-7279), MUFG Securities Americas Inc. (877 744-4532, 212 405-7481) and Mizuho Securities USA LLC (866 271-7406, 212 205-7736) to act as the dealer managers for the tender offers.

D.F. King & Co., Inc. (800 859-8509, 212 269-5550, nexa@dfking.com, www.dfking.com/nexa) is the tender and information agent for the offers.

The zinc producer is based in Luxembourg with mines in Peru and Brazil.

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