Five firms helped Hudbay Minerals Inc. to complete its offering of US$600 million aggregate principal amount of 4.50% Senior Notes due 2026 in the international markets. The transaction closed on March 8, 2020.
Rebaza, Alcázar & De Las Casas in Lima, Sullivan & Cromwell LLP in New York and Goodmans LLP in Toronto, advised the issuer and its guarantors, which included Hudbay Peru S.A.C., Hudbay Marketing & Sales Inc., and Hudbay Peru Inc. The initial purchaser of the notes, Barclays Capital Inc., on behalf of the Initial Purchasers, was advised by Latham & Watkins LLP in New York and Stikeman Elliott LLP in Toronto.
The issuer plans to use the new notes offering’s net proceeds to fund the redemption of its outstanding US$600 million aggregate principal amount of 7.625% senior notes due 2025, as part of Hudbay's 2016 issuance.
Hudbay is an integrated mining company producing copper concentrate (containing copper, gold and silver) and zinc metal. With assets in North and South America, the company is focused on the discovery, production, optimization, and marketing of base and precious metals. In Peru, Hudbay owns the Constancia mining unit, which includes Pampacancha, a high-grade satellite copper deposit located only four km from the Constancia Project.
Counsel to Hudbay
In-house counsel Mark Haber in Toronto, Luis Miguel Arce and Raphael Aspillaga in Lima.
Rebaza, Alcázar & De Las Casas Partner Luis Miguel Elias and Associates Ana María Sánchez and Valeria Sánchez Meléndez in Lima.
Sullivan and Cromwell LLP Partner Joaquin Perez Alati, Associates Jose Daniel Badia Gomez and Keith Pulling in New York.
Goodmans LLP
Partner Kari MacKay, Associate Laura Magisano in Toronto.
Counsels to Barclays Capital Inc.
Latham & Watkins LLP Partner Michael Benjamin, and Associates Jaye Han, Biagio Marino, and Ian Lachow in New York.
Stikeman Elliott LLP Partner Stewart Sutcliffe, Managing Principal Ken Ottenbreit and Associates Stefan Vrinceanu and Julien Robitaille-Rodriguez in Toronto.