Buenaventura Issues Inaugural 144A/Reg S Offering of US$550 million Senior Unsecured Notes Due 2026
24 July 2021 - 6:01AM
Business Wire
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$550 million.
The Notes mature on July 23, 2026 and a coupon rate of 5.500% per
annum.
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 43.65% of Minera Yanacocha S.R.L (a partnership
with Newmont Mining Corporation & Sumitomo Corporation), an
important precious metal producer and 19.58% of Sociedad Minera
Cerro Verde, an important Peruvian copper producer (a partnership
with Freeport-McMorRan Inc., Sumitomo Corporation & Sumitomo
Metals).
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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version on businesswire.com: https://www.businesswire.com/news/home/20210723005469/en/
Contacts in Lima: Daniel Dominguez, Chief Financial Officer
(511) 419 2540 Rodrigo Echecopar, Head of Investor Relations (511)
419 2591 / rodrigo.echecopar@buenaventura.pe Company Website:
www.buenaventura.com.pe/ir Contact in NY: Barbara Cano (646) 452
2334 barbara@inspirgroup.com
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