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Hudbay Minerals Completes Offering of US$600 Million Aggregate Principal Amount of Senior Notes
TORONTO, Sept. 23, 2020 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE:HBM) today announced that it has completed its previousl
About this update from Hudbay Minerals Inc
[{"type":"text","content":" TORONTO, Sept. 23, 2020 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE:HBM) today announced that it has completed its previously announced offering of US$600 million aggregate principal amount of 6.125% senior notes due 2029 (the “New Notes”). The New Notes will be governed by an indenture, dated as of September 23, 2020, among the company, the subsidiaries of the company party thereto as guarantors and U.S. Bank National Association, as trustee. Hudbay plans to use the net proceeds from the offering of the New Notes to fund the company’s previously announced redemption of all of its outstanding US$400 million aggregate principal amount of 7.250% senior notes due 2023 (the “2023 Notes”), pay any related premium, costs and expenses and for general corporate purposes. The New Notes will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any other jurisdiction. The New Notes will not be qualified by a prospectus in Canada. Unless they are registered or qualified by a prospectus, the New Notes may be offered only in transactions that are exempt from registration under the Securities Act, prospectus qualification under Canadian securities laws or the securities laws of any other jurisdiction. In the United States, the New Notes will be offered, and sold, only to persons reasonably believed to be “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) and outside the United States to non-U.S. persons in compliance with Regulation S under the Securities Act. This press release is neither an offer to sell nor the solicitation of an offer to buy the New Notes, the 2023 Notes or any other securities and shall not constitute an offer to sell or solicitation of an offer to buy, or a sale of, the New Notes, the 2023 Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful. Forward-Looking Information This news release contains forward-looking information within the meaning of applicable Canadian and United States securities legislation. All information contained in this news release, other than statements of current and historical fact, is forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as “plan...