Business
Redemption of 7.750% Bonds due 2021
Redemption of 7.750% Bonds due 2021.
About this update from Hochschild Mining Plc
[{"type":"text","content":"\n \nRNS Number : 4837Y Hochschild Mining PLC 06 December 2017 \n\n \n__________________________________________________________________________________\n \n6 December 2017 \n \n \nHochschild announces Redemption of 7.750% Bonds due 2021\n \n \nHochschild Mining plc (\"Hochschild\" or \"the Company\") announces that it has today (through its wholly-owned subsidiary, Compañia Minera Ares S.A.C) instructed the trustee to give notice to the noteholders in respect of the redemption of all outstanding Notes with outstanding principal, in aggregate, of US$294,775,000 (ISIN: US204474AA86 (Rule 144A) USP3318GAA69 (Reg S) and CUSIP: 204474AA8 (Rule 144) P3318GAA6 (Reg S)).\n \nThe redemption is expected to be undertaken pursuant to Article V of the indenture and paragraph 5(b) of the Notes with settlement expected to occur on 23 January 2018. The redemption price is set at $103.875 per $100 principal amount of the Notes, equating to a total payment of US$306,197,531.\n \nThe redemption will be financed through existing cash resources in addition to borrowings under committed facilities, in aggregate, of US$200 million on the terms outlined in the table below and is expected to result in a significant reduction in the Company's interest payments.\n &nb...