The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.
Hudbay announced last week it has priced an offering of US$500 million aggregate principal amount of senior unsecured notes due 2020. In response to the market reception for the offering, the company upsized the offering by US$100 million over the initial US$400 million planned. The notes were priced at 100 per cent of the aggregate principal amount, providing the company with gross proceeds of US$500 million and will yield 9.50 percent to maturity. The offering is expected to close on or about Sept. 13, subject to customary closing conditions. Hudbay plans to use the net proceeds from the offering for general corporate purposes and the development of its Lalor and Reed projects outside Snow Lake and its Constancia project in Peru. Upon completion of the offering, Hudbay intends to discontinue syndication of its previously announced US$600 million credit facility and retain its existing US$300 million credit facility.
