Hudbay Minerals Inc. (TSX:HBM) (NYSE:HBM) announced that it has completed its previously announced offering of US$600 million aggregate principal amount of 4.50% senior notes due 2026. The New Notes will be governed by an indenture, dated as of March 8, 2021, among the company, the subsidiaries of the company party thereto as guarantors and U.S. Bank National Association, as trustee.
Hudbay intends to use the net proceeds of the offering of the New Notes, together with available cash on hand, to finance the redemption of the company’s US$600 million of 7.625% Senior Notes due 2025 (the “2025 Notes”).
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 2025 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 2025 Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.
Hudbay is a diversified mining company primarily producing copper concentrate (containing copper, gold and silver) and zinc metal. The company is governed by the Canada Business Corporations Act and its shares are listed on the Toronto Stock Exchange, New York Stock Exchange and Bolsa de Valores de Lima.
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