Business
Closing of $350 million Senior Notes Offering
Closing of $350 million Senior Notes Offering.
About this update from Hochschild Mining Plc
[{"type":"text","content":"\n \nRNS Number : 4094Y Hochschild Mining PLC 23 January 2014 \n \n\n \n \n \n23 January 2014\n \nTHIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF AN OFFER OR SOLICITATION TO PURCHASE OR SUBSCRIBE FOR THE NOTES IN THE UNITED STATES (SUCH TERM TO BE UNDERSTOOD THROUGHOUT THIS ANNOUNCEMENT AS INCLUDING THE UNITED STATES' TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) OR ANY JURISDICTION IN WHICH SUCH AN OFFER OR SOLICITATION IS UNLAWFUL. IN PARTICULAR, THE NOTES REFERRED TO IN THIS ANNOUNCEMENT HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE \"SECURITIES ACT\") OR UNDER THE SECURITIES LEGISLATION OF ANY STATE OF THE UNITED STATES, AND MAY NOT BE OFFERED, SOLD, RESOLD OR DELIVERED, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES ABSENT REGISTRATION EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.\n \nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.\n \nHochschild Announces Closing of $350 million Senior Notes Offering\n \nHochschild Mining plc is pleased to announce the completion of the previously announced offering of $350 million aggregate principal amount of 7.750% Senior Notes due 2021 (the \"notes\") by its wholly owned subsidiary, Compañía Minera Ares S.A.C. The notes were offered only to qualified institutional buyers under Rule 144A under the Securities Act and to non-U.S. persons outside the United States in reliance on Regulation S of the Securities Act. The notes are guaranteed by Hochschild Mining plc and certain of its subsidiaries.\n \nThe net proceeds from the sale of the notes will be used to repay the outstanding borrowings under the Bridge Facility (the \"Bridge\") in full, plus accrued and unpaid interest, and to pay related fees and expenses. $270.0 million of indebtedness outstanding under the Bridge was incurred in December 2013 in order to finance the purchase price, fees and expenses associated with the previously announced acquisition of International Minerals Corporation, completed on 20 December 2013. The remaining proceeds will be used...