Buenaventura Issues Inaugural 144A/Reg S Offering of US$550 million Senior Unsecured Notes Due 2026
Compañia de Minas Buenaventura S.A.A. (NYSE: BVN) has successfully issued senior unsecured notes totaling US$550 million due in 2026 with a 5.500% coupon rate. The notes are guaranteed by several subsidiaries and were offered to qualified institutional buyers under Rule 144A and outside the US under Regulation S. CEO Leandro Garcia stated that proceeds will fully prepay a claim with SUNAT, enhancing the Company's credit profile, extending maturities, and reducing financing costs. This issuance reflects investor confidence in Buenaventura and Peru’s economic recovery.
- Successful issuance of US$550 million senior unsecured notes will strengthen the company's credit profile.
- Proceeds will be used to fully prepay a claim with SUNAT, reducing debt obligations.
- The bond issuance indicates strong investor confidence in the company's future and Peru's economic stability.
- None.
Compañia de Minas Buenaventura S.A.A. (“Buenaventura” or “the Company”) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly-traded precious metals mining company, today announced the successful issuance of its senior unsecured notes (the “Notes”) due 2026 in an aggregate amount of US
The Notes were offered in a private placement to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. persons in accordance with Regulation S under the Securities Act. The Notes are fully and unconditionally guaranteed jointly and severally by Compañía Minera Condesa S.A., Inversiones Colquijirca S.A., Procesadora Industrial Río Seco S.A. and Consorcio Energético Huancavelica S.A.
Leandro Garcia, Buenaventura´s CEO, commented: “Buenaventura intends to use the net proceeds from this offering to prepay the SUNAT claim in full. The transaction will contribute to strengthening the Company´s credit profile, extending maturities, reducing financing costs and freeing up lines of credit. The success of our bond issuance is an important reflection of investors’ confidence in our Company, and in Peru’s economic recovery and future stability.”
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor will there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction. The Notes have not been registered under the Securities Act, or any applicable state securities laws, and have been offered only to qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act and outside the United States to non-U.S. persons in accordance with Regulation S under the Securities Act. Unless so registered, the Notes may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and any applicable state securities laws.
Company Description
Compañía de Minas Buenaventura S.A.A. is Peru’s largest, publicly traded precious and base metals Company and a major holder of mining rights in Peru. The Company is engaged in the exploration, mining development, processing and trade of gold, silver and other base metals via wholly-owned mines and through its participation in joint venture projects. Buenaventura currently operates several mines in Peru (Orcopampa*, Uchucchacua*, Julcani*, Tambomayo*, El Brocal, La Zanja and Coimolache).
The Company owns
For a printed version of the Company’s 2018 Form 20-F, please contact the persons indicated above, or download a PDF format file from the Company’s web site. (*) Operations wholly owned by Buenaventura
Note on Forward-Looking Statements
This press release may contain forward-looking information (as defined in the U.S. Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties, including those concerning the Company’s, Yanacocha’s and Cerro Verde’s costs and expenses, results of exploration, the continued improving efficiency of operations, prevailing market prices of gold, silver, copper and other metals mined, the success of joint ventures, estimates of future explorations, development and production, subsidiaries’ plans for capital expenditures, estimates of reserves and Peruvian political, economic, social and legal developments. These forward-looking statements reflect the Company’s view with respect to the Company’s, Yanacocha’s and Cerro Verde’s future financial performance. Actual results could differ materially from those projected in the forward-looking statements as a result of a variety of factors discussed elsewhere in this Press Release.
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FAQ
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